Marina Da Gama | Interest rate cut ahead signals a good time for sellers

Marina Da Gama | Interest rate cut ahead signals a good time for sellers

Category Market Update

With a potential interest rate cut on the cards in the next two months, the positivity around the Government of National Unity, and the traditionally busier summer season ahead, the property market looks set for a return of some exuberance. It also means that now may well be an ideal time for sellers to put their properties on the market.

The Marina Da Gama and Muizenberg areas are of course summer hot spots and lend themselves especially to buyers looking for a great waterfront or coastal lifestyle. The area attracts a mix of buyers, from local residential buyers to holiday and Airbnb investors, as well as semigration buyers.

Propstats data shows that properties in Marina Da Gama have sold this year for upwards of R1.7 million for a two-bedroomed unit to R3.5 million for a spacious, three-bedroomed home. The average selling price stands at around R2.4 million. The waterside lifestyle, and proximity to the beaches of Muizenberg on the one side, and the attractions of the Southern Suburbs on the other side, all add to the desirability of property in the area.

The surfing mecca of Muizenberg has also seen good prices achieved with large homes sold this year for up to R8.35 million. According to Lightstone data, some 56 freehold houses and 26 sectional title properties have already transacted this year.

Excellent service delivery and access to a fabulous coastal lifestyle continue to boost demand across our area. While sales volumes have been lower this year, largely due to the high interest rate (which will hopefully come down soon), and very wet winter, we nonetheless see good incentives for sellers in the market.

That said, when it comes to selling, the benefits of a Sole Mandate simply cannot be overstated. It is an exclusive agreement with Seeff to focus all our energy on the selling of your property. Our innovative marketing methodologies together with an extensive network of qualified buyers, ensures more visibility and exposure to a wide pool of potential buyers. Seeff's Sole Mandates have proven time and again that we deliver on average a faster sale, and better price for our clients.

As an added incentive for sellers, a reminder of the incredible R1 million Cash Prize Competition which is open to all sellers who sell with Seeff on an exclusive sole mandate between the 1st of June 2024 and the 31st of May 2025.

We have already seen a number of sellers achieve an entry into this fantastic competition. Imagine what you could do with R1 million, renovate or remodel your home, invest it into your bond or elsewhere, or enjoy a holiday of a lifetime.

Aside from the credibility and 60-year brand leadership history, Seeff offers skilled and experienced agents who are able to assist clients to maximise their property goals.

Your local area agent, Cathy Halliday, recently concluded two excellent sales in the area, and she is ready to assist with your property needs. Contact her at any time for more information or to chat about your property aspirations.

Author: Gina Meintjes