Nov
2018
The picturesque town of Port Alfred on the Indian Ocean has a rich history in the maritime industry of South Africa.
The town is by no means large with roughly 26 000 permanent residents. Port Alfred has an economy currently driven by the building and allied industries and tourism.
The current trend has changed slightly from a purely second holiday home in Port Alfred to many people relocating to the tranquillity and opting to travel to towns like Grahamstown.
Having said that, Port Alfred has a strong property market driven by both the second holiday home market and the upgrading residential market.
The Kowie River and mouth into the Indian Ocean is prime real estate property with developments like the Royal Alfred Marina where exclusive homes are a norm.
Vacant stands are by no means inexpensive and a high level of demand will see property values continue to escalate in the foreseeable future. The town is to some extent still attracting a foreign tourist market which may in some part explain property values.
The town has also had a demand for property within the R500k price range and a few developments have taken care of this need, and has further increased the movement in the towns property market. This also means the property usage has diversified into more sectional title townhouses with the rest made up of freehold homes, small holdings and farms.
The number of suburb is a further indication of an expanding property market which speaks of stability.
As a well-established residential town infrastructure like schools and malls are within easy access.
Here is a list of some schools; Port Alfred High School, Port Alfred Primary School, Dambuza Primary School and Stenden South Africa.
Malls which cater for retail needs are Rosehill Mall, The Postmaster’s Village and Foschini Limited Shopping Mall.
The other ideal investment in Port Alfred’s property market is guest houses and B&B’s as the mild weather attracts tourists all year round and the town is also frequented by foreign tourists.
Take a tour of the homes in Port Alfred via the Myroof web-site.
