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Port Elizabeth - Property Update

Port Elizabeth Property - Eastern Cape

Port Elizabeth is the largest coastal city in the Eastern Cape. Beachfront properties and real estate in Port Elizabeth provide excellent capital growth and investment opportunities. Our property are still at the bottom of the growth curve, offering the investor in the right location good capital growth the a very short space of time. Property owners in Port Elizabeth enjoy clean beaches, fantastic sea views and close proximity to all amenities including an airport, shopping malls, hospitals and good schools.

There is a wide range of excellent property and real estate available for purchase or rental from apartments to large homes and new developments.Twenty minutes from Port Elizabeth is the Coega Project, a massive new harbour development, R4,5b investment to the VW plant in Uitenhage that will provide thousands of jobs and be a catalyst for major investment in the region.

Inland is the Baviaanskloof Wilderness area, a nature conservation hertigage site. This is an unspoiled area stretching for over a 100km along an exquisite valley. There are spectacular hiking and 4x4 trails with remote camp sites allowing outdoor enthusiasts to escape from the rat-race. At the entrance to the Baviaanskloof are many citrus farms that grow export quality fruit in the Hanky / Patensy district.

Port Elizabeth is recognised as the economic hub of the Eastern Cape and its strategic position is strengthened by increasing activity in and around Coega, which bodes well for future growth in the residential property market.

While most of our home buyers are locals, we do receive enquiries from those relocating from other centres for a variety of reasons including a better lifestyle, business transfers and retirement. It’s not unusual to find families moving from the larger cities to Port Elizabeth for a way of life, with the breadwinner then commuting on business. This appears to be a growing trend, particularly among those working in Johannesburg who then travel to work each week and return to family life on weekends. An attractive coastal lifestyle and reduced crime are key factors influencing purchase decisions and is especially evident among middle to upmarket buyers seeking family homes in the sought-after suburbs - either to purchase or rent. Port Elizabeth offers the life-style, security and convenience - every area offers close and well developed infrastructure to either the beach or the airport.

We offer many opportunities for parents of university students, retirees and investors, who can expect excellent rental returns depending on the address. There are currently sound opportunities for those who embrace property as a long-term investment – with long term capital growth coupled with healthy short term yields, with the highest demand for townhouses, mostly from families.

For investors, there is especially a high demand for student accommodation as the Nelson Mandela Metropolitan University is situated in Summerstrand, one of the city’s prime suburbs.

Most out of town visitors only realise the good value for money available in the residential property market or the range of suburbs and properties when they visit our lovely city. The market caters for all tastes, lifestyles and budgets, whether you want to be in the centre of things or out in the country.

Driving distances between suburbs and traffic volumes are significantly less than those in the bigger cities. Everything is within a short driving distance whether the city centre, business hubs, beach, schools, university, malls or the countryside, he says. You can also see the Big Five within 40 minutes of the city, and contrary to popular belief, Port Elizabeth is far from being the country’s windiest city, however, its most definitely the friendliest city.

In addition to new infrastructural developments in the pipeline for the area, including initiatives in rail, dams, roads and schools, which will have positive spinoffs for the local economy and housing market. The construction of the new Baywest Mall just 10 kilometres from the Port Elizabeth CBD will create a new urban node and metropolitan gateway at the western entrance to the city. Furthermore, the R200m upgrade of GreenAcres Mall adds to the overall development and modernizing of our city.

Baywest aims to change the face of shopping and lifestyle in the Eastern Cape by creating a design that will blend a retail component with a strong sense of community, with carefully landscaped green areas and top priority security. Sisa Ngebulana, executive chairman of the specialist property investors Billion Group, says the vision behind Baywest Mall is to create a safe haven where people can live freely. “Residents must be able to stroll with their children, walk their dogs in the parks and push their prams from their homes in the development to the open air boulevard and the mall. It offers a whole new way of living in a pedestrian-friendly setup.”
 
Harcourts Mandela Bay, Port Elizabeth can assist you with all types of residential property and real estate for sale and rental including houses, apartments, cluster developments, security complexes, land and guesthouses. Mandela Bay's agents extend their reach into all areas and provide residential property services throughout the entire Port Elizabeth area including the beachfront, Central, Mill Park, Walmer, Summerstrand, Lorraine, Westering and Lovemore Heights, Costwald and closer to the new Baywest Mall.