Ocean-facing Sea Point is a lively, affluent suburb with tidal pools, childrens’ playgrounds, sunset views, the promenade walking route, restaurants, coffee bars and much more
DENSELY populated, with affluent homes worth millions to cheap hotels with rooms by the hour, Sea Point is nothing if not eclectic and colourful, offering residents and visitors a unique lifestyle.
Backing onto Signal Hill, houses are built cheek by jowl towards the surrounding mountainside, while apartment buildings are more common in the central area and toward the beachfront.
“Sea Point is easily accessible from town and Hout Bay, and the introduction of the MyCiti route through the area has greatly improved public transport.
“The area is well located close to the V&A Waterfront, bustling Cape Town city centre and the other popular Atlantic seaboard suburbs of Bantry Bay, Clifton and Camps Bay,” says Farrel Kelman, Pam Golding Properties agent for the area.
“Sea Point offers a desirable beachfront lifestyle with access to a range of amenities including an outdoor gym, Olympic-size swimming pool and play areas for children. This makes Sea Point appealing to families, tourists and young professionals seeking to pursue outdoor activities.”
The central location, beachfront views and cosmopolitan vibe means a mix of rental and investment opportunities. Its popularity with overseas and local visitors makes Sea Point ideal for short-term rentals, says Kelman.
Beachfront apartment living has traditionally been popular with those whose lifestyles had transitioned after children moved out of larger houses, leading them to relocate to a lock-up-and-go lifestyle with the benefit of being able to walk to conveniences and shopping.
However, from about 2011-2012, the area has experienced an unprecedented surge in demand associated with the relocation of buyers from Gauteng, especially from Sandton, which has changed the demographic of the suburb to be populated by younger profile owners and not necessarily people transitioning, says Pam Golding Properties agent Melanie Truss.
“We have also found Sea Point’s houses, which in the past have lagged behind in pricing when compared to Fresnaye and Bantry Bay, have benefited from the demand surge and prices have escalated significantly, considering Sea Point began this cycle at a far more competitive price point. This resulted in many owners experiencing significant growth in the last five-year cycle,” she says.
Minette Munitz, of Pam Golding Properties’ Sea Point office, says the area has been revitalised, with improvements including a multi-million investment by the City of Cape Town in the upgrade of the promenade and sea wall.
“This area is popular with locals who use the promenade to run, cycle or walk, as well as tourists enjoying a cosmopolitan, coastal lifestyle.”
While sectional title properties make up most of the market, there are some free-standing properties.
According to Lightstone property data, 89.1% of Sea Point properties are sectional title units and 10.86% are free-standing homes.
From May last year to May this year, 202 sectional title units were sold for more than R3million, with the average selling price at R5.2m. In the R1.5m-R3m price band, 119 sectional title units sold.
Thirteen apartments priced between R800000 and R1.5m were also sold in the past 12 months.
Allison Foat’s places of interest and things to do
Sea Point is famous for its restaurants offering global cuisine, ranging from all manner of Asian – Chinese, Japanese, Korean and more – to Italian and Yiddish comfort food. Kleinsky’s Delicatessen (0214332871) serves latkes, chicken soup, bagels with schmear, pastrami on rye, and challah French toast.
Not only a place to drink, but to eat and shop as well, Mojo Market (0879407474) has celebrated a first birthday. The seven-day-a-week food and lifestyle market in Regent Road is a mix of designer retail stalls, a daily fresh goods section and food vendors. There is a central bar, cocktail bar, coffee outlets and fresh juices. Live music evenings and during the day on weekends.
Previously Adelphi Centre, the property now has the appearance of an ultra-luxurious modern mall, and is named Artem (0214341457). The parking area was turned into a giant canvas, featuring the designs of street artists from Pretoria.
4 Walk, run or cycle
The promenade hugs several kilometres of the Atlantic seaboard and is popular from sunrise to sunset – run, cycle, skate or walk, with or without dogs.