While there has been a general cooling down in prices in the Cape Town market, there are still certain pockets that continue to do well despite the current economic climate. The suburb of Hout Bay is one of them.
The suburb continues to grow in terms of value largely because it offers so many appealing features for permanent residence. Here are just some of the reasons the area remains so popular (according to Sally Kuypers of RE/MAX Home):
Dog Lovers’ Delight
The area offers relative affordability in terms of properties with enough garden space for dogs. This is a great drawcard, especially since this is a town of dog lovers; even the beaches are incredibly dog-friendly.
Sense of Community
Hout Bay is a microcosm of South Africa. The suburb has properties to accommodate the very wealthy, middle class and the less advantaged. When there is an emergency, be it fire, flood or storm damage, the community rallies together. Although the population has increased dramatically, the so-called ‘Houties’ still consider themselves a village. There is a great sense of togetherness in this suburb that newcomers instantly feel.
Safety is one of the biggest proponents for buying in this area. The area has an excellent Neighbourhood Watch system, as well as community websites where news and updates are regularly posted. They are an incredibly transparent community in which all residents are kept fully informed of the good and the bad.
Location, location, location
Hout Bay is also incredibly conveniently located. Just thirty minutes to town, and the routes are so scenic: either through towering forest or along a road with mountains on one side and the ocean on the other. It is also just ten minutes away from Constantia wine valley. And, of course, minutes away from sunset dinners from beachside restaurants. Hout Bay is also one of the most-photographed, scenic routes in the world. For this reason and all the others explained above, it is not difficult to understand its steadfast appeal to real estate investors.