Strand Beach Road Sales Up By 147% During 2022 - 10 Apartment Sales Per Month
The semi-gration to the Cape Town area and the Western Cape has during 2022 also been reflected in an 147% increase of Strand Beach Road apartment sales.
Apartment sale volumes on Strand Beach Road has during 2022 increased to 119 sales for the year or about 10 beachfront apartment sales on average per month - up from the pre-CV19 2018/9 period's 4 units sold per month.
Strand beachfront apartments have during 2022, depending on the age, size and location of the unit, sold for between R8 088 per sq. to R36 264 per square meter.
The highest price for an apartment was achieved in Topaz where a 216 sq.m unit sold for R 5 900 000.
The lowest prices achieved in 2022 on Strand Beach Road, were a 68 sq.m. unit in Mare Video for R550 000 and a 22 sq.m unit in Cisterama for R550 000. Only 14 Beach Road apartments, predominantly located in the oldest apartments blocks older than 20 years, sold for less than R1 million.
The existing complexes on Strand Beach Road can be categorized in 3 different price brackets according to "age and finishes" with the average price per square meter:
1. Older than 20 years = R8 000 to about R20 000 per sq/m
2. Between 10 - 20 years = R14 000 to about R27 000 per sq/m
3. Between 5 - 10 years = R21 000 to about R36 000 per sq/m
Strand Beach Road Property Market
The highest priced properties per square meter in the Strand are the 52 apartment blocks located along the 3,6 kilometres long Strand Beach Road.
Beach Road property can be subdivided into 3 areas:
Golden Mile (Melkbaai or the Strand North suburb's beach area - from the Lourens River to Hibernian Towers);
Town Central (Van Ryneveld's beach area - from Kusweg 121 to Odeon);
Platinum Mile (Parks Estate's beach area - from De Mirendol to Peninsula Bay next to Greenways Golf Estate).
2022 Property Sales On Strand Beach Road
Golden Mile - Apartment Sales:
The Golden Mile has always been the most popular area along Beach Road - generating in 2022, 66 of the 119 beachfront sales (just more than 5 sales per month).
The highest price per sq.m achieved on Strand Beach Road for the last few years has been in Cape Sands, where a 91 sq.m apartment sold in 2022 for R3 300 000 at R36 264 per sq.m. Cape Sands has also seen 17,85% capital growth during the last 2 years, increasing from R30 769 per sq.m in 2020.
The lowest price per sq.m was also achieved in Mare Video - R8 088/sq.m. The only other 2 sales with a price/sq.m achieved of less than R10 000 was at Strandsig - 74 sq.m which sold for R860 000 @ R9 556 / sq.m. and at Seemeeu (105 sq.m sold for R1,75 million at R8 333).
Town Central - Apartment Sales:
22 Apartments sold during 2022 along the central part of Strand Beach Road.
The highest sales prices achieved in 2022 was in Metropole Plaza (R2,4 million - 113 sq.m @ R21 239 per sq.m.) and in 97 On Strand (R2,4 million - 89 sq.m at R26 966 per sq.m).
The highest price per sq.m was the R26 966 - for the R2,4 million 89 sq.m apartment in 97 On Strand.
The lowest sales price achieved for apartments was also in Strandsig : R850 000 / 74 sq.m / R11 486 per sq.m. while the lowest price per sq.m was in another Strandsig apartment (R9 556 per sq.m).
Platinum Mile - Apartment Sales:
31 Apartments sold during 2022 along Platinum Mile section Strand's Beach Road.
The highest sales price achieved in 2022 was in Ocean View (R4,5 million - 241 sq.m @ R18 672 per sq.m.
The highest price per sq.m was in Peninsula Bay (R31 333 per sq.m - 45 sq.m @ R1 410 000)
The lowest sales price achieved for apartments was in Helderberg apartments : R640 000 / 63 sq.m / R10 159 per sq.m.