[Image: Flickr]
Elands Bay was once a sleepy surf outpost, but can now be considered a rising star on South Africa’s property scene.
According to data from Seeff Property Group released in April, the average home price in this West Coast gem has skyrocketed by a staggering 213% over the last decade, from R400,000 to R1.25 million. Not bad for a town once known mainly for its waves and weekenders.
Tucked 220km north of Cape Town on the Atlantic, Elands Bay has morphed from a surf safari secret into a serious contender on the property ladder. And it’s not alone. The West Coast is heating up fast, with buyers—both local and international—snapping up property like it’s the last braai pack before a long weekend.
Once pegged as retirement territory, these coastal hideaways are shaking off the ‘pensioner paradise’ label.
“They’re no longer just for holidays and retirement,” experts from Seeff noted, adding that towns like Elands Bay are now full-time destinations for people chasing better lifestyles.
And what’s fuelling this boom? Semigration. People aren’t just moving, they’re migrating smarter. Wealth is packing its bags and heading for the Western Cape, seeking space, scenery, and sanity.
Scenic fishing villages that once played second fiddle to bigger metros are suddenly centre stage. What was once a lazy coastal vibe now comes with a side of solid investment appeal. Buyers are latching onto the West Coast lifestyle perks—think less traffic, more ocean—and the price tags (for now) aren’t nearly as painful as in other parts of the country.
People want the best of both worlds: peaceful surroundings and the ability to run a business or Zoom into a job. That’s driving up demand, and with it, prices. No surprise then that Elands Bay homes have jumped from R400,000 in 2014 to R1.25 million in 2024. Talk about a blast-off.
But this isn’t just a one-town wonder. Seeff says the West Coast surge is widespread. Towns like Yzerfontein and St Helena Bay are riding the same wave. Yzerfontein’s average home price has nearly tripled, leaping from R1.25 million to R3.1 million—a 196% climb that would make any investor do a double-take.
St Helena Bay? Up 107%. Paternoster? 106%. You get the picture—property along this stretch is smoking hot.
Semigration usually gets painted as Gautengers fleeing north for the Cape’s calm. And yes, over 3,500 homeowners from Gauteng and nearly 900 from KwaZulu-Natal have made the move, according to Lightstone Property. But here’s the twist: it’s not just a tale of big province to big province.
There’s also a quiet reshuffle happening within the Western Cape. People are ditching the congestion, the cost, and the queues of Cape Town life and opting for smaller towns where your money—and your sanity—go further.
Cape Town may still be the crown jewel, but it’s losing a bit of its sparkle for some. “Cape Town’s downward trend is largely driven by rising costs, congestion and challenges like long school waiting lists,” said Rhys Dyer, CEO of the ooba Group.
Sure, it still outprices Johannesburg or Pretoria, but many Capetonians aren’t going far—they’re just shifting out to the fringes. Enter Elands Bay and its coastal cousins, where you can trade gridlock for gulls, and R5 million shoeboxes for something with a view.
Meanwhile, places like Langebaan, Malmesbury, and the Winelands (yes, the Stellenbosch-Paarl power combo) are also cashing in on the trend. Affordable, connected, and chilled-out? That’s the trifecta pulling buyers in droves.
Basically, the West Coast is roaring past rising.
[Source: BusinessTech]
