Property area focus: Bowtie

Property area focus: Bowtie

Category Property News

The Bowtie area in Plett is unique and popular as a result of the breath-taking panoramic views over Keurbooms River mouth, Lookout Beach below, and the Tsitsikamma Mountains. Shifting high and low tides avail ever changing sea views throughout the day. Bowtie boasts some of South Africa's most spectacular sunrises, sunsets, and moon rises over the river and bay. Properties here are advantageously close to town and a variety of restaurants, shops, and malls. Keurbooms La goon and Lookout Beach are a short drive away or within walking distance for the fitter among us. Bowtie properties are set on a northeast facing slope allowing for a north or north easterly aspect to maximize property potential and views. This makes for warm homes in winter as it allows sun light 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 sheltered from predominant winds. All of these factors have made the area renowned for a most 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 open up onto large patios or balconies, bringing the outdoors in while maximizing views. The suburb offers a wide variety of properties ranging from comfort able entry level homes to some of Plett's most e clusive and sought after properties. Private gated estates such as Bowtie Private Estate and Montmar are situated here, together with a popular sectional complex Bowtie Villas. Bowtie is situated between the suburbs of Poortjies, Upper Central, and Marine Drive, and is close to Plett Primary and the medi-clinic. Front row properties in Bowtie Private Estate enjoy views of the ocean, mountains, and even the lagoon, in some cases. Centrally located next to a green belt it consists of residential homes, mostly with three to five bedrooms. There has been a number of sales here over the past three years and the estate has grown in popularity and demand, as it is particularly well managed and centrally situated. 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 we can now start moving forward and building our country's economy again. We trust that the residential property market will make a comeback after a slower start this year, compared to our exceptional start in 2018. Total property sales in Plett were 577 in 2018 compared to 642 in 2017 a drop of just over 10%. Full title residential sales by volume also dropped by 27.9% from 197 in 2017 to 142 in 2018. Breaking this down further by value price, only two price brackets have shown an increase in the volume of sales in 2018: the R2,3M price bracket increased by 50% and sales of R4,5M increased by 200%. These, however, were the only price brackets showing an increase in sales. The most noteworthy change is the 33.3% drop in sales in the R5 - R7M bracket, where there were six sales in 2017 and four sales in 2018. Sales under R1M also dropped significantly 49.4% from 85 in 2017 to 43 in 2018. This is also evident in the number of new houses currently being built in various gated estates, where many vacant stands were sold in 2017, making up the bulk of sales under R1M. Significantly in 2018 there were 10 properties sold for above R10M and of these 10 sales only four were in lifestyle estates, while other properties were sold in prestigious areas such as Beachy Head, Drive, Bowtie, Cutty-Sart and Odland Street. There were 12 sales in the Bowtie area during 201 with an average price of R4,251,017. If one bear in mind that this figure includes some vacant stand! it's clearly slightly skewed. The sale of 4 Julia Avenue at R11.5M is the highest price paid in the Bow, tie area in recent time: the lowest recent price for a house is 24 Challenge Drive at R1 .5M. The cheapest property currently on the market i a vacant stand in Bowtie Private Estate at R430,00 and a house situated at 1 Challenge at R1,775,000. The most expensive house currently on the market is 3 Protea Place at R14M including vacant stand in front, an, the most expensive vacant stand is 23 Julia for R3.5M. Other good buy available and offering spectacular sea views are 21 Bowtie at R6.5M, a advertised on the front page of this edition. The unique layout of it roads and upmarket character of this area make the name "Bowtie" particularly appropriate. Paul Jordaan is an intern estate agent at Lew Geffen Sotheby's International Realty Plett and, a Bowtie area specialist. See the listing on the cover for further info an, contact details.

Author: Lew Geffen Sotheby's International Realty