Knysna calls high-net-worth buyers to this R2b luxury coastal market

With over R2b in annual transactions and the highest volume of multi-millionaire-owned second homes (higher than Plettenberg Bay) outside of the Cape Town Atlantic Seaboard, Knysna ranks among the premium coastal hotspots nationally, according to Gail Rimbault, licensee for Seeff Knysna.

Nearly one third of homes (above R500k) are valued over R5m with premium homes exceeding R10m ranging to as much as R52m to R78m.

The market has been resilient, despite local challenges. Last year’s transaction volumes in fact exceeded the prior two years, she says. Buyers are mostly from the Cape, but almost one third (30%) emanate from Gauteng. Knysna is also the second most popular destination for international buyers (outside of Cape Town), attracting buyers primarily from the UK, Germany, and Continental Europe.

The market is strongly driven by high-end semigration and luxury estate living. Premium estates include Thesen Island, now boasting an average valuation of around R8.4m, along with Pezula, Simola, Eastford Country Estate, and Belvidere Estate. The dramatic natural surroundings make it attractive for eco-living, a trend rapidly gaining traction among high end buyers and investors.

The demand for low-impact living in delicate ecosystems is well-illustrated by the new Hagedashi Luxury Estate, located in the Gouna Hills just 10-minutes from Knysna central, she says further. The estate is named for the commonly known, Hadeda bird, native to the region whose unmistakable call is often heard in the early light.

For affluent buyers seeking self-sufficiency, tranquil surroundings, and long-term capital preservation without sacrificing proximity to convenient amenities, secure estate living remains the most sought-after property segment in the Garden Route region she says further.

As a tourist town, Knysna boasts a buoyant short-term letting market (homes and apartments), delivering strong yields, but largely driven by strong seasonal trends. It is a second home, retirement and semigration hotspot, also popular with remote workers and commuters who work elsewhere, but settle their families in the town.

It is just over an hour from the George Airport and conveniences in the town. It boasts a vibrant, cosmopolitan lifestyle with galleries, cafés, waterfront restaurants, and championship golf courses. It is particularly suited to outdoor living with yachting, boat-based whale watching,  hiking, cycling and mountain biking trails, beaches, and local markets in nearby.

Knysna property, especially homes such as those on offer in Hagedashi is a very appealing investment, she says. Whether for own residence, second home or investment, this is an exceptional find. There is always demand, and properties sell relatively easily with sellers achieving good prices, according to a Lightstone Report.

Issued by Gina Meintjes