Property Area Focus: Bowtie 2019
Property Area Focus: Bowtie
The Bowtie area in Plettenberg Bay is a very unique and popular area as a result of the breath-taking, panoramic sea views over the Keurbooms River Mouth, Look Out Beach below and Tsitsikamma Mountains. The view is forever changing throughout the day as a result of the shifting high and low tides. Bowtie has some of South Africa’s most spectacular sunrises, sunsets and especially the moon rises over the Keurbooms River and Bay.
Properties here are advantageously close to our beautiful town, and a variety of restaurants, shops, and malls. The Keurbooms Lagoon and Lookout Beach are a very short drive away or within walking distance for the fitter amongst us.
The Bowtie area is set on a North East facing slope allowing for most of the properties in the area to have a North or North Easterly aspect to maximise property potential and views. This makes for a warm home in winter by allowing the sunlight in when the sun is on a lower axis. During summer the sun passes directly over the roofs during the midday heat, thereby allowing a more moderate temperature. Furthermore, the properties are generally very sheltered from our predominant winds. All of this leads to the area being renowned for a very comfortable climate.
Many upmarket properties have been built here as a result of the views and climate, most with elegant and spacious entertaining areas that often open up onto large patios or balconies, bringing the outdoors in while utilizing the views as much as possible. The suburb offers a wide variety of properties ranging from comfortable/entry level homes to some of Plett’s most exclusive and sought after properties. Private gated estates with such as Bowtie Private Estate and Montmar are situated here, together with a very popular sectional complex Bowtie Villas. Bowtie is situated between the suburbs Poortjies, Upper Central, and Marine Drive, and is close to Plettenberg Bay Primary School and the Medi-clinic.
Bowtie Private Estate is a secure gated estate where the front row properties enjoy views of the Indian Ocean, Tsitsikamma Mountains, and some even the Keurbooms Lagoon. It is centrally located, next to a green belt, and consists of residential homes, mostly with 3 to 5 bedrooms. There have been a number of sales here over the past 3 years and the estate has definitely grown in popularity and demand as it is a really well run and central.
Montmar is certainly the most upmarket gated estate in central Plett with properties boasting some of the most beautiful views in the region. It really encapsulates all that Plett has to offer.
The 2019 national elections have come and gone peacefully and hopefully, now we can start moving forward and building our country’ss economy again. We trust that the residential property market will make a comeback after a bit of a slower start to this year, compared to our exceptional start in 2018.
Total property sales in Plett were 577 in 2018 compared to 642 in 2017. Evidently, there was an overall drop of just over 10%. When you compare the full title residential sales by volume, it has also dropped 27.9% from 197 properties in 2017 to 142 in 2018.
When you break this down further by value/price only two price brackets have shown an increase in the volume of sales in 2018; namely, the R2-3 million price bracket increased by 50% and sales in the R 4 – 5 Million price bracket increased by 200%. These, however, were the only price brackets where there was an increase in sales.
The very noteworthy change is the 33.3% drop in sales in the R5M-R7M bracket, where there were 6 sales in 2017 and 4 sales in 2018. Sales under R1M also dropped significantly, by 49.4% from 85 sales in 2017 to 43 sales in 2018. This can also be seen from the number of new houses currently being built in various gated estates where a lot of vacant land was sold in 2017 and this makes up the bulk of the sales under R 1 Million. Very noticeably in 2018 there were 10 properties sold for above R 10 Million and of these 10 sales only four were in lifestyle estates, whilst the other properties sold were in prominent and prestigious areas such as Beachy Head Drive, Bowtie, Cutty Sark and Oldland Street.
There were 12 sales in the Bowtie area during 2018 giving an average sales price of R4,251,017; if one bears in mind that there are some vacant stands included in these figures as well it is evident that it is slightly skewed. The sale of 4 Julia Avenue is the highest sale for the Bowtie area in recent times at R11,500,000 and the lowest sale in recent times for a house would be 24 Challenge Drive at R1,500,000. The cheapest property currently on the market in the area is a vacant stand in the gated estate of Bowtie Private Estate at R 430,000 and a house situated at 13 Challenge at R1,775,000. The most expensive house currently on the market is 3 Protea Place at R14,000,000 (includes the vacant stand in front), and the most expensive vacant stand is 23 Julia Avenue for R3,500,000. There are other good buys currently available in the area offering spectacular sea views such as 21 Bowtie Drive at R6,500,000, as advertised on the front page of this edition.
The shape of the roads and the upmarket character of this area make the name “Bowtie” fitting.
By Paul Jordaan, intern estate agent at Lew Geffen Sotheby’s International Realty Plettenberg Bay and Bowtie area specialist: email@example.com or 082 876 0577.
Click below for more details on an example of a Bowtie Area property:
North facing 5 bedroom, 5 bathroom sea view home.
Asking price: R6,500,000