Best "bargain" property buys in Cape Town amidst soaring house prices
Category Property News
Cape Town's property prices are on a steep upward trajectory as booming demand pushes house prices up to two or three times that of the rest of South Africa.
The influx of people relocating to Cape Town from other provinces has seen increasing demand for quality properties in sought-after areas such as the Southern Suburbs, Atlantic Seaboard, and the Cape Town City Bowl. This means that stock has become limited, leading to rising prices.
According to property market information provider Lightstone, the average price of a house in Cape Town has risen by 161.5% over the past decade. This can put financial pressure on those with less capital available to them - particularly first-time home buyers, young couples and families.
However, the good news is that there are still great property deals to be found if you know where to look. This is according to Alexa Horne, MD of DG Properties, who shares some best "bargain" buys in Cape Town.
"Bargain" buys for under R4 million
"A budget of less than R4 million won't usually buy much in Cape Town - especially in the most popular suburbs. But gems are out there!" says Alison Robb, sales agent for DG. "Such as a two-bedroom ground-floor apartment for sale by DG in Green Point that enjoys a large open balcony with mountain views, in a secure and tranquil setting for R2.65 million. This bright, recently renovated apartment, set amongst beautiful evergreen trees, is within walking distance of the V&A Waterfront and also has secure underground parking with direct lift access and 24-hour manned security with CCTV camera surveillance."
"In the hugely popular De Waterkant precinct, property bargain seekers can find a large modern and well-maintained one-bedroom apartment in The Mirage building for R2,595 million. This primely located home has panoramic Table Mountain and harbour views from its elevated position and offers a fully integrated kitchen, full bathroom with shower and separate bath, 24-hour manned security, a communal pool and gym, as well as secure underground parking - all within walking distance of all the fabulous amenities De Waterkant has to offer."
In addition to the Atlantic Seaboard and inner city areas, DG Properties offer some tips on bargains for Southern Suburbs property seekers.
Moving out of the city to popular Kenilworth Upper is a huge 188 square metre three-bedroom apartment for R3,699 million. Lana Holt, Dogon Southern Suburbs sales agent explains that this lovely spacious home with beautiful parquet floors has a large veranda overlooking a lush garden with mature trees, two automated garages, and is situated in a secure and well-managed complex that is close to restaurants, coffee shops, excellent schools, Cavendish Shopping Mall, Virgin Active and Kingsbury Hospital and is only 15 minutes drive away from Kirstenbosch Botanical Gardens and the University of Cape Town.
In Rondebosch is a wonderful three-bedroom apartment which is on the market for R2,065 million. Situated on the top floor of its building with a wrap-around balcony that is accessible from two of the bedrooms and the open-plan living room, this primely located apartment is in a quiet cul-de-sac and only 100 metres from the Rondebosch Main Road shopping area, as well as many restaurants, fast food, nightlife etc. This home includes a lock-up garage with an additional parking bay in front and is in a very secure building with electric fencing, security lights and access control to the property and building.
Finally, for those looking for a stand-alone home in the Southern Suburbs for under R4 million - which is almost unheard of for this popular area - Dogon has a three-bedroom house on its books for R3,885 million. Set in an attractive suburban street with bay windows and beautiful jasmine to welcome you, this home has two bathrooms, an open-plan lounge/dining area with a fireplace, a separate scullery/laundry, a private courtyard garden and a dedicated off-street parking space.
"The semigration trend is not going anywhere anytime soon. According to Stats SA, the Western Cape will possibly gain an additional 313 000 migrators over the next five years. With more people looking for homes in Cape Town we anticipate an ongoing rise in property prices - good news for those able to grab up bargain deals and get onto the Cape property ladder now," concludes Horne.
Author: Dogon Group Properties