According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, Coastal Towns have been far more popular than inland areas ever since remote working became more prevalent and service delivery has dropped in several inland municipalities.
The latest Lightstone Residential Property Indices Report reveals that annual property inflation is at 7% for coastal areas versus just 1% in non-coastal areas as at end June 2024. Where Gauteng’s latest property inflation stats are at 0.31%, The Western Cape is at 4.63% growth.
“This is one of the biggest challenges for those who are moving from inland areas to coastal suburbs. Owing to their popularity, property prices in coastal areas are far more expensive. For example, in our Q1 2024 RE/MAX National Housing Report, the average house price in the Western Cape was R2.6m compared to R1.5m in Gauteng,” Goslett highlights.
He warns sellers in inland areas not to overprice their homes in order to afford the move to coastal areas, as this strategy will only delay the sale and, in all likelihood, lead to a much lower final sales price.
Another consideration worth budgeting for is the difference in lifestyle expenses. Goslett explains that the more popular the suburb, the more expensive the surrounding goods and services are likely to be. Things like restaurants, grocery stores, and hairdressers might all cost more, so it is worthwhile researching this before committing to the new area.
Especially for those who live near to a beach, maintenance on a coastal home is also likely to differ from that of an inland property. “Coastal homes are exposed to salt air, which can accelerate the corrosion of metal fixtures. Sand and strong winds can also cause abrasion and damage to surfaces, particularly those that are painted or finished. Regular maintenance and proactive measures are essential to preserving the home’s condition and value,” says Goslett.
One last consideration is that homes in popular coastal suburbs might also be affected by tourist seasons. “People flock to coastal suburbs during the summer months, which can cause extra congestion on the roads and surrounding facilities. This might be an adjustment for those who lived in quieter areas inland,” he notes.
Relocating from an inland area to a coastal region can be an exciting journey. However, it’s crucial for potential movers to understand the differences in maintenance and lifestyle adjustments that come with coastal living. “If you are considering a cross-country move, speak to a brand with an extensive local footprint. With over 170 offices across the country, our network of well-connected real estate professionals can help you become fully informed about the move so that you can make the most of your new surroundings,” he concludes.
Writer: Kayla Ferguson
