Recent sales show strong demand for Hout Bay homes

Category Property News

The sale of six very different houses in Hout Bay by Gerald Romanovsky of Dogon Group Properties over the past eight weeks highlights the increasing demand for properties in an area that is attracting an eclectic mix of buyers who want to express their individuality through their homes. One of the houses sold was a Japanese-style home designed by its first owner, fashion designer Hilton Weiner.

Romanovsky, of Dogon Group's Hout Bay office says the designer's attention to detail is evident in the Japanese rafters of the spacious lounge, and the Japanese blinds and room dividers, as well as the solid Oregon pine floors, copper fascia boards, old brass handles and taps, Japanese garden with koi pond and fountain, and numerous other features evoking the spirit of Japan.

The recent sellers, who bought the three-story Victorskloof home from Weiner several years ago, enhanced it by adding a funicular and outhouses. Romanovsky says the property has a unique location, with "postcard perfect" views of the bay, and stands on the original road to Camps Bay designed by Thomas Bain, according to a plaque erected 200m from the house.

The sale of this unusual home was something of a coup for the Hout Bay office, as it had only recently come onto Dogon Group Properties' books, after being on the market for two years with several other agents and attracting only a limited number of potential buyers. Romanovsky achieved over R5-million after introducing the right buyer who appreciated the uniqueness of the property. Another property recently sold was a three-bedroom modern, state-of-art family home in Longkloof, one of Hout Bay's 27 precincts.

The ambience that the sellers had created in their home was so appealing that two potential purchasers strove to outbid each other, gradually stepping up their offers from R4,2-million to the final selling price of R4,4-million, Romanovsky says. "The sellers had redone the interior of the house and the garden, and both were immaculate. This shows that if a seller takes time, trouble and care to present his home properly, it will be measured in the price he achieves."

Recent sales also included a property in Harbour Heights, a relatively unknown area formerly called Hout Bay Heights, which overlooks the bay. "The five-bedroom house, which was sold for R1,5-million, was in a rundown state and will be renovated by the new owner," says Romanovsky. "It was bought by someone who loves the multi-ethnicity of this developing area: he loved the idea of looking out across a mosque and having a colourful mix of people in his neighbourhood.

Another major selling point was the position of the swimming pool, which has spectacular views of the harbour and bay." Romanovsky also sold a dual-living family home which has five bedrooms, four en-suite, with mountain views from private balconies. The property has two lounge/dining room areas and two kitchens, and stands on a 2 330 square metre plot in Victorskloof. "It was sold for R4-million to a retired airhostess from the UK, who will run it as a guesthouse with her husband," he says.

"Guesthouses are a popular buy in this area, which attracts many tourists. Many of the people who are coming into Hout Bay are retiring and looking to run such establishments." A fifth property sold was a family home in Bokkeman's Kloof, which had recently been extended to include an upper level. "This northfacing, three-bedroom house was sold for R1,5-million, a good price in a lovely, rustic area where homes are fetching up to R1,9-million," he says, adding that good value can still be found in very good pockets of very good suburbs.

The sixth was a northfacing property in The Meadows, one of Hout Bay's oldest suburbs, which is undervalued in Romanovsky's opinion, and still offers buyers excellent value. Situated in a quiet cul-de-sac with panoramic views of the valley, the three-bedroom house with separate flatlet fetched over R2-million. Romanovsky says many purchasers in Hout Bay are now choosing to buy older houses on big plots so that they can renovate and put their own individual stamp on their homes.

He has also noticed that many people building new homes in the area are reluctant to buy in security estates where the design of their homes will be restricted by architectural guidelines. "Buyers in this suburb now want to express their individuality through the design of their homes." He says the demand for properties in the area has increased so much that stock has diminished greatly, "I've found that people are moving up in Hout Bay, not moving out, as they love the area," he says.

Much development is being planned, including the construction of about 300 aesthetically pleasing apartments off Empire Road, within the next couple of years, he says. "This indicates that the market in Hout Bay will continue to strengthen, as developers would not build apartments here if there was no demand."

Author: Dogon Group Properties

Submitted 13 Jun 07 / Views 974