Investors target booming Saldanha

The residential property market in Saldanha Bay is booming thanks to increased demand stimulated by industrial development.

New investment by Saldanha Steel and other industries has changed the character of the West Coast town – traditionally a fishing village - and created a booming rental market as new jobs draw new residents, says Johan Truter, co-owner of the local Aida franchise.

“Investors are active in the buy-to-let market in the price range from R680 000 to R780 000 and although monthly rentals for such three-bedroom homes average only R4000, they are confident of strong capital growth. In the past nine years, property values in Saldanha have doubled every three years,” he says.

Truter also says sales in the new 16ha Hoogland development are strong. “There has been a long lead-time because of delays in services but investors who initially bought stands are now reselling at good profits. Prices have nearly doubled in the past year and stands for resale are available from R340 000, while the developer is now selling stands from R430 000.”

All services have now been installed and owners have started building. About 10 homes have been completed or are in construction.

There are also indications that Saldanha is moving towards a luxury residential market with renewed interest in beachfront properties. “In the past, the Saldanha market catered mainly for residents who worked in town but developers are buying land along the beachfront and at least three new developments are in the planning stages. Such projects will bring the local property market more in line with other West Coast towns such as Langebaan, which has a thriving holiday market.

In keeping with the changing face of the local property market, Aida Saldanha has just upgraded its offices and created more parking space.

“We are fast expanding our activities in our franchise area,” says Truter. “Earlier this year we moved our office in Langebaan to larger premises and just recently we opened an office in Vredenburg. Strong activity in Lambertsbaai has encouraged us to open a dedicated office there too and we plan to open yet another in the Piketberg area.”

Aida head office: 012 682 9600
Contact: Jan Davel
Aida Saldanha: 021 714 2610
Contact: Johan Truter


Meg Wilson

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