The Eastern Cape is located on the east coast of South Africa between the Western Cape and KwaZulu-Natal provinces. The Eastern Cape's main feature is its spectacular coastline bordering the Indian Ocean.
It covers an area of 168 966 km² and has a population of 6.7 million. It is the second-largest province in South Africa by surface area and has the third-largest population. The capital is Bhisho. Other major cities and towns include Port Elizabeth, East London, Grahamstown, Mthatha, Graaff Reinet, Cradock and Port St John's.
The Eastern Cape is also home to two metros namely Nelson Mandela Bay Metro (Port Elizabeth) and Buffalo City Metro (East London). The metropolitan economies of Port Elizabeth and East London are based primarily on manufacturing, the most important industry being the hub of South Africa's automotive industry.
Buffalo City | East London
Area: 2 536 km²: Buffalo City Metro is named after the Buffalo RiverEast London is situated 1 000 kilometres from Cape Town. Nestled between the Nahoon River in the north and the Buffalo River to the south it is the only river port in South Africa. It lies at the northern end of a 300 kilometre stretch of coastline referred to as the "Sunshine Coast" which has St Francis Bay at the southern end.
East London, itself, has some 400 000 residents, the metropolitan area has 1.4 million, and it is the second largest city in the province of the Eastern Cape.Residential areas such as Vincent, Selborne, Berea, Stirling and Nahoon are very popular because of their close proximity to schools, the central shopping hubs of Vincent Mall and Balfour Park and easy access to beaches. Beacon Bay is also one of the most popular areas of residence. Real estate in East London affords access to many great attractions and interest-specific activities, and some of the amenities to benefit from when buying or renting a house in East London, are:
- Schools: A host of pre-primary and primary schools on your doorstep and access to high schools like Merrifield, Claredon, Cambridge, Hudson Park, Stirling and Selborne College.
- Tertiary education: From East London you have access to Walter Sisulu University, the University of Fort Hare, Rhodes and Nelson Mandela Metropolitan University.
“The average selling prices of properties in the Beacon Bay area are between R1,4 and R1,8 million, with more exclusive properties featuring river and ocean views, selling between R 2 million toR 2,5 million and prime properties situated on the banks of the Nahoon River fetch prices of up to R 10 million” says Carlisle Snyman, Licence Partner of Engel & Völkers East London.
There is also plenty of development in terms of townhouse complexes affording the average buyer the means to buy a free standing home within a secure complex at an affordable price. Some of the most popular residential areas in East London are Amalinda, Cambridge, Quigney, Vincent, Berea, Selborne, Stirling, Bunkershill, Nahoon, Beacon Bay and Gonubie.
Nelson Mandela Bay | Port Elizabeth
Area: 1 959 km²: Nelson Mandela Bay is a major seaport and automotive manufacturing centre.
Port Elizabeth is also nicknamed the Friendly City or the Windy City. It has 2 ports, an industrial development zone and some of the top branded hotels on the beachfront. Port Elizabeth also has the Nelson Mandela Bay University which boasts some of the top faculties in the country.
Port Elizabeth is fortunate to have some of the top schools in the country and the areas surrounding the schools are highly sought-after. Richmond Hill is in the process of being revamped with fantastic restaurants and has a relaxed vibe, Baywest Mall opened in May 2015, which is a R 1,7 billion development - this mall features top-end brands and restaurants as well as an ice rink.
Summerstrand is very popular due the university close by and the good proximity to schools and the beach. “Here the average selling price is sR 1,8 million for a home, although there are some homes on the market for up to R 10 million with the average age of buyers being 35 - 49, and therefore considered as a family area. Walmer and Mill Park consist of your old more traditional homes and are situated near Grey and Collegiate Schools. The average size of stands in Upper Walmer is approx 2 000 sqm and range in price from R 2,5 million and upwards” commented Brett Grant, Licence Partner of Engel & Völkers Port Elizabeth.
“St Georges Park is on the popular Park Drive and opposite the St Georges Park Stadium and the Park itself, with the average selling price for an apartment there being R 780 000 depending on the block and the size of the apartment. Lorraine is an area consisting of predominately small estates and sectional titles with an average selling price of R 750 000 and the average owners' age being 18 - 35 years old” Brett concluded.
Sought-after and popular residential areas are Mill Park, St Georges Park, Walmer, Summerstrand and Lorraine.