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How has the 2010 FIFA World Cup changed the dynamic for the local buyer of the Cape Town Property?
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Posted On :
Nov-09-2010
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Article Word Count :
573
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Experts are of the opinion that the World Cup has changed the dynamics of the Cape Town property market bringing a new dimension of foreign investments with augmented exposure. Prices here are at on the move upward, especially in places that have highly sought after residential real estate like Bantry Bay, Camps Bay, Clifton and Higgovale.
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Experts are of the opinion that the World Cup has changed the dynamics of the Cape Town property market bringing a new dimension of foreign investments with augmented exposure. Prices here are at on the move upward, especially in places that have highly sought after residential real estate like Bantry Bay, Camps Bay, Clifton and Higgovale.
What does it signify for local buyers seeking to get into the action? Will prices remain like this or will the furor die down after the World Cup season is over.
South Peninsula and its lovely townships can offer a number of extremely viable Cape Town property options for the buyers with a budget under 3 million Rands. These economical gems can if you are lucky come with a view and if you keep looking have beach front access
A detached home with 3 bedrooms can be yours in Kommetjie under 2million Rands, a quaint cottage for 1.25 million Rands in Scarborough. There are also other such reasonably priced deals available in Fish Hoek where one can obtain 1 or 2 bed apartments for as little as 500-600,000 Rands. Detached homes in Fish Hoek go as little as 850,000 Rands to 1.4 million.
If you want to live near the sea the Cape Town property for you is in Mouille Point, where you can still get a single bedroom apartment starting from about 1.25 million Rands. In next door Green Point, bachelor units go for around 500.000 Rands and large two-bedroom houses fetch closer to 2 million Rands.
Premium areas like Vredehoek and Oranjezicht is more expensive but you can still buy a second hand home or a fixer upper under 2.5 million Rands. The buoyancy in the Cape Town property market is fueled by the rising middle class who are seeking to take their new found wealth out into the suburbs. If you are buying as an investment the peninsula is as sound an investment as it gets.
Suburbs like Sunningdale, Flamingo Vlei, and Bloubergrant have a good variety of studio apartments, gated complexes and detached homes. Also popular are newer developments like Big Bay and golf estates. The challenges of acquiring mortgage finance might hassle but it does not stop buyers from making an offer as the demand is strongly there.
At the lower end of the spectrum between R600, 000 and 1 million are smaller two bedroom starter apartments that are perfect if you are a first time buyer. Between 1 and 2 million you cab buy larger detached homes. You can also take a look at the Golf Estates for a great lifestyle and a solid home at the same price.
As you go higher there are of course more choices from starter homes to beachfront apartments that are well suited if you are retired and want some thing simple and easy to maintain that is hassle free.
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. If you are still wondering if it is worth it to invest now and not wait for the finance situation to improve don’t because investing in a Cape Town property is always a sound decision as you won’t have trouble finding tenants or future buyers.
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Article Source :
http://www.articleseen.com/Article_How has the 2010 FIFA World Cup changed the dynamic for the local buyer of the Cape Town Property?_40929.aspx
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Author Resource :
Find more information relating to cape town properties, and cape town property here.
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Keywords :
cape town property, cape town properties,
Category :
Business
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Business
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