South Africa: Real Estate Buyers Flock to West Coast

Yzerfontein boasts of the highest average transaction price of R3.1m followed by Langebaan at R2.3m

The small West Coast towns and villages of South Africa are no longer just for holidays and retirement, as more people are moving into areas like Langebaan, Yzerfontein, and further afield to St Helena Bay and Elands Bay, according to agents from the Seeff Property Group. Yzerfontein currently boasts the highest average real estate transaction price of R3.1m followed by Langebaan at R2.3m.

The beautiful fishing villages, many with white-washed Cape vernacular architecture have seen a strong shift in sales activities during the market boom of 2021/1. The migration of wealth to the West Coast is seeing prices of up to R5m to R8m being paid for luxury homes in Langebaan.

Heading Westwards

• Proximity to Cape Town drives families and professionals to settle in the West Coast region
• Towns like Langebaan and Yzerfontein seeing increased property demand and higher prices
• Luxury homes in Langebaan selling for up to R8 million, reflecting market growth

People working or with businesses in Saldanha and Vredenburg, as well as those who come to the West Coast for contracts and other business reasons, often prefer to settle in places such as Langebaan. This has boosted the Langebaan property market where transactions worth over R1.3bn were recorded for the 12 months to the end of September, according to Lightstone data.

Given the proximity to Cape Town, under two hour’s drive, Langebaan is a popular weekend getaway, and many Capetonians own homes, or rent Airbnbs. Families are also moving there, and now have access to a Curro School.

Places like Malmesbury have benefited from the upgrades to the N7 Cape Town to Namibia Route that runs through the region. Given that it is only about a 40-minute drive from Cape Town, many people choose to settle there and commute daily.

Lightstone data shows the West Coast property markets boomed during the 2021/2 period resulting in notable growth in median prices over the last five years, doubling in areas such as Yzerfontein and Paternoster, while areas such as Langebaan, Malmesbury and St Helena enjoyed a notable uptick. Most towns experienced growth of 60% to as much as 107% and even 196% over the last 10 years, according to the data.

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