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VALUE FOR MONEY TO BE FOUND IN GORDON'S BAYGordon's Bay in the Western Cape is a small idyllic seaside town on the eastern edge of False Bay. It is well located only 40 minutes drive from Cape Town International Airport and 50 minutes drive from the ‘Mother City'. Gordon's Bay offers a Mediterranean climate, with a blue flag beach, rock pools and calm seas along with excellent restaurants, shopping malls and amenities. "This is one of the reasons why," says Jan de Villiers, Broker/Owner of RE/MAX Seafront which operates in the Gordon's Bay area, "first time homebuyers, those looking to scale down, and buyers relocating, especially from Gauteng, are all attracted to the area as a property investment location of choice." He says that buyers can expect to pay between R580 000 and R650 000 for an entry level home in the area, with middle of the range homes selling between R780 and R1,4m. He says top of the range homes in Gordon's Bay sell anywhere from R2m to R19m, depending on location, size and design. De Villiers notes that while they are definitely experiencing an increase in sales volume on a monthly basis, offers to purchase are mostly less than the asking prices. Adrian Goslett, CEO of RE/MAX of Southern Africa, reports an impressive increase in sales for the group during May and June 2010 compared to the same periods last year. "These figures are especially significant considering that winter is not traditionally a strong sales period in South Africa, particularly in the Cape." Talking about prevalent trends in the area, de Villiers says that many homeowners have undertaken renovations in a bid to add value to their properties. "I think prices are starting to consolidate and in the next 12 to 18 months we'll start seeing a normalisation in the property market.
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