Your Cape Town Property - What It Would Cost To Achieve

By Author: ricky ponting
Total Articles: 87
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So what would this fantasy cost to achieve? It is surprisingly little considering what you are getting for it. To start it depends on what type of a home you are seeking to buy. Prices on the Atlantic coast can range from between R 700,000 to upto R5, 000,000. Starting at a functional one bed apartment it can go upto the kit and caboodle with designer homes that are avant-garde, technical marvels, mentioned in architectural magazine and have won awards.
If you want a basic Cape Town property in an Atlantic suburb as a second home which is a good investment, the following should help you achieve it. At the cheaper end of the spectrum are quaint suburbs like Green Point or Anchor Bay, Sea Point or Mouille Point. Made up of apartment blocks and smaller cottages, there are still affordable gems to be found here like sea view bed-sits that still sell for R700,000. This won't last long though as only in the last year Mouille Point has shown a price increase of a staggering 193%.
With neighborhoods that were rundown even a couple of years ago fast regenerating into extremely palatable developments it's a race to get ...
... in while the prices are still relatively low. With citizen groups and improvement trusts acting in congress to clean up there acts, what used to be run down are fast turning into sleek developments that are surrounded by amenities and cafes and shopping malls. Trendy bars and restaurant patios are filled with tourists who are on the look out for rentals. Investing in a Cape Town property here is a sound decision as you won't have trouble finding tenants or future buyers.
On the other end of the spectrum are family homes in places like Bantry Bay or Fresanaye. In the peak season between December and March you can rent out premium properties on the higher end at as high as R300, 000. Beach houses in locales like Clifton or iconic homes in Granger Bay where in rented for as much as R350, 000 per day during the World Cup period.
Regularly rented by celebrities, sporting royalty and Hollywood stars, returns can be immense if you choose to invest in the premium Cape Town property market. Services you would be required to provide include housekeeping, which also ensures that the home is taken care of. To do this properly you should hand it over to a letting agent who for a portion of you gross take in will take care of all the details.
Even with the last year and half of global market contractions the Cape Town property market has only been marginally affected. It is a generally known fact that in comparison to the world property markets the Cape Town property market has been significantly undervalued. Even though in the recent past there has been some bridging of the gap in place like the Cape Town properties for sale, it is till extremely competitive.
The demand in the Premium Cape Town property market is still strong especially consistent along the Atlantic Coast, where it has held its own even under fiscal pressures. The area is still South Africa's second most popular tourist destination. Even though the Rand is going strong a significant amount of sales are made to foreign nationals. What is even more heartening is that a considerable amount of the sales are done to South Africans, which shows their confidence in the countries economy.
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