Skiathos suburb in Langebaan – good value property close to the beach

Skiathos suburb in Langebaan – good value property close to the beach

The Skiathos suburb in Langebaan consist of 205 own title or freehold houses with an average municipal valuation of R852 827 (2014).

Skiathos suburb gives the impression of a private little village on its own. With its bright red, green and blue rooftops, you cannot miss it. It is situated within walking distance to the Mykonos Casino and the Laguna Mall. Skiatos is very popular amongst holiday makers.

You are only five minutes away from Mid Town and the beach. Curro Private School and the Long Acres small holdings are also just three minutes away. They are also busy with a new Hospital next to the Laguna Mall. Other closest amenities include the Gerimed Sub-Acute Care & Frail Care Centre, The Sea Breeze Medical Centre and the Langebaan Primary School.

Skiathos consist of 205 own title or freehold houses. There are no sectional title property in Skiathos. The average household income range is according to Lightstone between R37 000 and R43 000 – LSM10Low. The age profile of the stable owners is about 15% (older than 65 years), 40% (50 to 64  years), 37% (36-49 years) and 8% (35 and younger).

8 Houses were transferred in Skiathos between May 2013 and April 2014 – of which 6 was priced below R800 000 and 2 below R1,5 million. The average number of annual transfers between 2006 and 2013 has been about 13 per year – with 7 being effected in 2013 and 3 up to April 2014.

The average price has seen an increase of 16,55% between the lower end of the property cycle 2009 (R640 000) and 2013 (R767 000) – despite being still down from the 2008 top end of the property cycle (R864 000). Total value of transactions in 2013 in the property market is still however fairly low at R5,369 million  - about half of 2012’s R10 560 million and a third of the top end of the property cycle in 2006 (R16 698 million). Good news for price stability and future growth is that there were no sales in execution during 2013 against respectively 4 and 5 during 2009 and 2010.