The development upgrade of the small boat harbour in Kleinmond in the Overstrand area of the Western Cape is putting a new gloss on the local economy.
The upgrade, which started about two years ago, will eventually lead to Kleinmond boasting its own waterfront, says John Knight, owner of the RealNet Pringle Bay & Surrounds franchise. The project is expected to be fully completed in the next five years.
"The road to the harbour, where deep-sea fisherman and crayfish catchers launch their small craft, has already been upgraded and restaurants in the harbour area have put on fresh faces. It has become a favourite destination for visitors, holidaymakers and residents alike," he says.
"The Fresh Market in Harbour Road, where visitors can buy organic vegetables and freshly made delicacies and meet producers and chefs, has also become a highlight of the local calendar. Held on the first and last Sunday of every month, it is also a good place to buy bunches of local fynbos or artworks by local Overstrand artists. Entertainers, musicians and face painters add to the festive atmosphere."
Knight says the effects of the upgrade can also clearly be seen in the local property market - long a favourite of holiday buyers and retirees.“There is currently avid interest among retirees because of the charm of the town, as well as the sound infrastructure, while investors in holiday homes are still very active in the market.
“Demand for long-term rental accommodation has also increased recently, to such an extent our office will open a separate rental division next month (February)at our new premises in the JP Peters Centre on the main road.”
He says commuters working in Hermanus, about 25km away, are now targeting accommodation in Kleinmond because stock is more readily available and, once again, the lifestyle is very appealing.
“Staff at the nearby Arabella Hotel are also targeting rental homes in Kleinmond and the increased rental demand has also piqued the interest of investors, who are now keen to add long-term rental properties to their portfolios of holiday accommodation.”
Rentals range from about R3000 a month for two-bedroom units up to R10 000 a month for more upmarket homes on the beachfront. Buyers can expect to pay around R750 000 for a comfortable older home inland, to between R5m and R8m for top properties on the beachfront. Knight notes, however, that most current buyers are targeting modernised homes price at around R950 000.
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