Simon’s Town Real Estate News

Simon’s Town Home Owners: Are You Banking On The Tourist Influx?

Are you thinking of buying property in Simon’s Town? Do you have a bed and breakfast? If not, you may not be prepared for the growth and the expected inflation of property prices in Simon’s Town.

photo credit: DanieVDM

Today Simon’s Town home prices are under pressure. Yes they are. It takes longer to sell but the Simon’s Town properties will inflated again at a rate that will surprise you as more and more people discover what we have in Simon’s Town.

I just read the Tourist Accommodation Policy (TAP), dated October 2007, and it contains some mind boggling stats and trends. The info contained here affects us as potential and current property owners. It affects the tourism business in Simon’s Town; the guest houses and bed and breakfast accommodation.

Again: Are you preparing for the gradual and eventual expansion of the Simon’s Town village?

Read this info from the TAP and tell me if you agree with my optimism?

The importance of the tourist accommodation industry to the Western Cape and the City of Cape Town is illustrated by the following statistics (Western Cape Tourism and Investment Trends 2000 to 2002, Western Cape Tourism Board, 2006, www.capetourism.org):

• Estimated number of nights spent by foreign visitors in the Western Cape is 15 million and growing at 16.6%.
• Foreign visitors spent an estimated R17.3 billion in the Western Cape in 2002, of which R7.4 billion was for accommodation.
• Five of the top 11 South Africa tourist attractions visited by overseas and African visitors are located in the City of Cape Town, namely:
  • V&A Waterfront (42%)
  • Table Mountain (34%)
  • Cape Point (33%)
  • Kirstenbosch (±20%)
  • Robben Island (±15%)
• Average length of stay by overseas visitors in the City of Cape Town is 8 nights, along the Garden Route 1,45 days and in the rest of the Western Cape 1,8 days.
• Number of foreign visitors is expected to increase from 790 000 in 1999 to 4 million in 2010.
• Hotels are the most common form of accommodation utilized by visitors (60%), while bed and breakfast establishment accommodation (±20%) in the Western Cape is higher than the national average.
• The national job creation ratio per number of tourists is estimated at 1:8. The ratio for Cape Town has not been established, but is expected to be higher as the geographical area is smaller.

I believe that you’ll agree this is good news if you want to invest in Simon’s Town. With Simon’s Town properties selling slower it’s a great time to buy and watch your investment grows.

Tags: Simonstown Home Owners, Tourist

Posted in Simonstown Property | Comments