(1888PressRelease)
April 24, 2007 - The March 2007 residential figures from RPPR shows that Simonstown is by far the most popular residential area for buyers outside of the Western Cape. Of the R17.54 million invested by these outsiders in the False Bay area 53% was invested in Simonstown, Fish Hoek is second with only 23%.
"To find our ideal home we started at Yzerfontein, on the west coast, had lunch in Scarborough and looked at some lovely homes but we ended up buying a home in Simonstown. Now we know that many other out of towners do the same. Simonstown has the view, the history, a dog called Just Nuisance, the penguins and a romantic village feel to it." said Johan Horak.
Of all the residential properties sold in Simonstown, during March 2007, 63% was bought by outsiders. Most of these were by Gautengers and buyers from the UK, at 52% and 34% respectively.
It's interesting to note that Simonstown comprise only 15% of the total False Bay residential property market. But during March 2007 outsiders made up 63% Simonstown's residential market compared to only 14.8% for the False Bay area.
Another statistic to support the popularity of Simonstown is the premium of 27% that buyers are willing to pay for full title homes in Simon's Town. In Simon's Town the average selling price is R1.854 million compared to R1.465 million in the False Bay area for March 2007.
According to Johan Horak who started a property newsletter for Simonstown called SimonsTownRealty.Info, "The very best property investment criterion is location. In the False Bay area Simonstown is the-location. Even if you have to buy smaller property we advise you to choose Simonstown because you will get more than your money back."
