Plettenberg Bay property prices double to R5 million average

PLETTENBERG BAY — 18 June 2025

Property prices in Plettenberg Bay have doubled over five years to nearly R5 million on average, driven by semigration and holiday-home demand, now making it South Africa’s second most expensive market.

BusinessTech reports the surge—well above national trends—followed strong demand during and after the COVID-19 pandemic, especially for second homes and retirement properties.

Prices rose sharply across all property types, including luxury estates and sectional titles, with experts describing the growth as extraordinary. “The growth has significantly outpaced the national average,” a Seeff’s licensee said.

Average house prices range from R3.5 million to R8.5 million. High-end properties sell between R5 million and R15 million—reaching up to R78 million—while sectional titles cost R1.8 million to R3.8 million. New units start around R6 million (property experts via BusinessTech).

The Garden Route town’s popularity stems from its warm climate, oceanfront location, access to major cities, and relaxed lifestyle—luring both holidaymakers and permanent residents.

Lightstone Property’s Hayley Ivins-Downes cautions the price surge made Plettenberg Bay unaffordable for many locals. She noted it transformed the once laid-back town into a playground for the wealthy.

The area now trails only Cape Town’s Atlantic Seaboard in property values nationally.