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Cape Town Property – Affordability in the Western Seaboard
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Posted On :
Nov-10-2010
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Article Word Count :
540
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With tough economic conditions and problems of finding mortgage finance it is very important to find affordable yet viable housing in the Cape Town Property for sale market.
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With tough economic conditions and problems of finding mortgage finance it is very important to find affordable yet viable housing in the Cape Town Property for sale market.
This is especially true if you are a first time buyer and a late entrant in the boom. Accessibility is very important if you are scaling down as a retiree or you need to sale up for your growing family.
Yet affordable housing is not a fantasy as there are still certain Cape Town suburbs that will give you the quality of life that you want without putting you in debt forever. A well built and decent home between R600, 000 to 3 million Rands is not a myth. Starting from compact apartments favored by young couples to larger detached homes there is still value for money to be got in the Cape Town Properties for sale if you know where to look for it.
A great Cape Town property market is in Central City where you can get an entry level apartment right at the centre of the business district for about 500,000 Rands. A cool bachelor pad is yours for between 1-2 million Rands. These are great for professional who work in the city and can be saved as future investment for their potential for rental income.
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.
The reason is apparent, what with 65% of the land being taken up by the mountains and natural reserves, available Cape Town property in the suburbs is slowly but surely drying up. The new affluent middle class is desperately looking for better places to bring up its children and to retire and finally to find itself better quality of life.
Suburbs in the Cape flats like Mitchell’s Plain, Grassy Park and Ottery are growing at a slower rate while places like Rondebosch East, Diep River, Lower Wynberg, Retreat Sea Point and Goodwood are set to take of. Some of the best Cape Town property to be had in terms of lifestyle as well as investment is Simons Town
Simon Town with its 53 minute train commute to the city centre, its charming Main Street, great restaurants and flourishing yacht club seems increasingly welcoming to those who are fed up with traffic on the highways. Near perfect Golf courses, vibrant cultural life, mountain trails and low crime rate Simon Town's popularity will only increase in the decade to come.
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Article Source :
http://www.articleseen.com/Article_Cape Town Property – Affordability in the Western Seaboard _41060.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
:
Business
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