Most of the real estate companies on this list see some of their biggest sales from properties in the Western Cape. For Seeff, this has translated to receiving high volumes of sales in their offices in the province.
Real estate agents from Seeff property in Hout Bay say they have had higher-than-expected sales and rental activity in the last financial year. The Hout Bay and Llandudno property market has topped a record high of R1.2 billion in turnover. Their high-value sales include an R32 million home in Hout Bay.
The high-value mark is a result of the area’s fantastic lifestyle: it is near the beach, offers a street café vibe, and includes nature reserves. Sales for luxury apartments in Cape Town are also high. Seeff represents about 40 percent of the Atlantic Seaboard apartment market. Additionally, they just recently sold around 97 units for an average price of R12.7 million.
In other provinces, the Seeff Richards Bay division is one of the most successful branches in KZN. It receives a total of around 26 percent of real estate sales and rentals in the market. Kwazulu Natal’s Seeff Dolphin Coast received numerous awards at the Annual Seeff KZN Awards. The awards include Private Property Online Excellence Award and Ooba Home Finance Awards in Rands.
There’s been a major growth rate in properties under R5 million. Seeff witnessed that those are the kinds of properties that are able to sell within 30 days; on the other hand, properties under R10 million take a few days more.
Profits also increased slightly around 2.52 billion due mostly to sales of redevelopments around CBDs in Gauteng and the Western Cape. PayProp confirms that the Western Cape is now SA’s most expensive province for renting or buying a residential property. In fact, the Western Cape is 75 percent more expensive than SA’s cheapest province, the North West Province.