Thriving property market in the Western Cape: what buyers need to know

The Western Cape property market activity continues to thrive, particularly within some of the more sought-after nodes such as the Constantia Valley. 

“When market conditions are thriving, investors stand to benefit greatly by partnering alongside a seasoned property professional who has the local knowledge and relevant market expertise to get them on the inside track,” notes Adrian Goslett, regional director and CEO of REMAX Southern Africa.

REMAX says that it has recently had the privilege of onboarding one of the top agents in the area, Priscilla Young, who, up until recently, had been working for a competing brand.

Initially qualified as a teacher and with a law degree behind her name, Young spontaneously ventured into the real estate profession and has not looked back since.

“Having just reached the pinnacle of my achievements in a boutique property company, I relish the opportunity to take on a bigger challenge within a very established, expansive international brand,” she explains.

Constantia property market

Sharing her invaluable insights into the Constantia market, Young quotes Propstats data, which reflects the average selling price in the area to be just over R21 500 000 with a variance of just over 7% between asking and achieved.

“In several instances, sellers have achieved more than asking. Many of the properties sold have also not actually gone to market. It is thus more of a seller’s market at present.

"By presenting higher offers, buyers are even enticing sellers to part with homes that aren’t even on the active market. I have also noticed an uptick in pricing in the greater Valley area,” she notes.

Semigration impact

Due to ongoing 'semigration' from Gauteng and KwaZulu-Natal, Young notes that many buyers are looking to buy in gated estates or mini 'semi 'gated communities.

“By the latter, I mean the smaller sectional-schemed homes which vary from 2 to 6 units in a complex. Many of these schemes have been launched and sold very successfully over the past few years.

"An additional trend, or ongoing demand, comes from foreigners looking to invest in luxury high-end homes on larger erven,” she explains.

Going forward, sectional title living is set to remain one of the strongest-performing segments of South Africa’s residential property market.  

This was due to affordability pressures, urban densification and lifestyle changes all shaping buyer behaviour. 

Sectional title sales across South Africa have shown significant growth in recent months as they outpaced freehold home sales in many urban areas. “

According to the FNB House Price Index, July marked a key milestone as, for the first time post-pandemic, equity values generated by sectional title properties marginally outpaced those of freestanding homes. 

According to Young, the buyer profile for the area includes younger professionals, semigrating families, and many foreigners, as well as a retiree market largely consisting of local homeowners who need to downsize and are reluctant to leave their much-loved area.

Demand vs Supply

Given the high demand and stock shortages, Young’s advice to those hoping to purchase in the area is “DO NOT wait.”

She explains that there has already been a 30% increase in prices this year. “Buyers with R15 million at the beginning of 2025 are already struggling to find enough value if they had elected to wait, for whatever reason,” she notes.

Everyone buying a home would like to know that they are getting good value for money. While buying a property that is good value for money is not easy, it is achievable for those who are astute and are willing to be patient and remove as much emotion from the decision as possible.

The first important mindset shift is that buyers must not confuse value with price, Renier Kriek, managing director of innovative home loan provider Sentinel Homes, said recently. 

“Just because you were able to negotiate a reduction in the asking price does not make it a bargain. The price likely was inflated to begin with, because there are many incentives favouring higher listing prices.”   

According to Goslett, listening to the advice of seasoned area experts is what can give investors an inside edge in solid investment decisions.

“We are thrilled to have Priscilla join the brand and are excited to see just how much more she can achieve given the backing and support of our global network,” Goslett says.

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