23 April 2007

Simon's Town is the most popular residential choice in the False Bay area for out of town buyers.

Submitted by: Johan Horak
{pp}Simon's Town is the most popular residential choice in the False Bay area for out of town buyers. Because 53% of all the money spend on residential property, in False Bay by outsiders, were for homes in Simonstown. In addition buyers are willing to pay a premium of 27% for a home in Simonstown. Most of the outsiders were from Gauteng and the UK at 52% and 34% respectively.
The March 2007 residential figures from RPPR show that Simonstown is by far the most popular residential area for buyers outside of the Western Cape. Of the R17.54 million invested by outsiders, in the False Bay area, 53% of the total was invested in Simonstown, Fish Hoek second with only 23% of the R17.54 million."To find our ideal home we started our journey at Yzerfontein, on the West Coast, all the way to Scarborough where we had lunch and looked at some lovely homes but ended up buying in Simonstown. We now 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 were by Gautengers and buyers from the UK, at 52% and 34% respectively.It\'s interesting to note that although Simonstown only comprises 15% of the total False Bay residential property market, 63% of the outsiders bought in Simonstown compared to the 14.8% for the whole of the False Bay area during March 2007.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 Simonstown the average property sells 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 www.SimonsTownRealty.Info, "The very best property investment criterion is location and Simonstown is the location of choice in the False Bay area. Even if you have to buy smaller we advise you to choose property in Simonstown as you will get more than your money back."Contact Details:Johan Horakwww.simonstownrealty.info Phone: 027 82 870 2004Phone: 027 82 955 6464Fax: 027 86 512 0274
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