|
|
A Cape Town property is a great investment despite talks of slowdown
|
|
Posted On :
Nov-10-2010
| seen (234) times |
Article Word Count :
528
|
|
Even though the media might suggest a slow down in the Cape Town property boom, the truth is that it is still a great investment. It is actually now a better bet because the correction in the market has leveled prices to rational limits and sellers can be made to see reason.
|
|
Even though the media might suggest a slow down in the Cape Town property boom, the truth is that it is still a great investment. It is actually now a better bet because the correction in the market has leveled prices to rational limits and sellers can be made to see reason.
Voted by UK’s Telegraph Travel Awards as the best foreign city in the world Cape Town is the perfect destination for your vacation home. Its natural beauty is unparalleled and it can be correctly called a lifestyle destination.
To say that it is one of most beautiful places on earth is actually an understatement. It has plenty of everything, the ocean, the mountains, the natural forests, nightlife and sporting activities. This is what makes choosing where to buy your Cape Town property even harder. If you think the world has not notice this you are mistaken because Cape Town is fast becoming the second home destination for the world.
Four years ago the average cost of a house in the Cape Town property market was 970,000 Rand. Popular place to buy were the uber-rich Atlantic Coast suburbs of Camps Bay and Clifton, which were the destination of choice for most foreigners seeking a second investment home.
It is true that stupendous leaps of 30% growth a year in Cape Town property prices are a thing of the past but even with a slower pace the return is very good and the growth signifies excellent capital returns. All indications show that the growth rate in the Cape Town property market is still stable with a year on year growth of 15, 5%
Even though the inflationary pressures have meant a steady rise in interest rate with more to come, Property experts are saying that the growth in house price will be an average of 13.1%. Some of it’s definitely spearheaded by foreign investors who have come in to take advantage of the weakened Rand. The bulk of foreign buyers are from Europe, US and the UK especially from German, Dutch, British, American and Irish clients.
Of particular interest is fractional ownership which is a area of buoyant growth and has found favor with those who are not in favor of buying a holiday home outright.
Another great catalyst is of course the 2010 FIFA World Cup which has pumped billions of foreign investment into the economy this has also had a profound affect on the Cape Town property Market.
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.
The Cape Town property market is booming and this is definitely a direct result. Property values are on the rise as interests among foreign investors grow, as any expert watcher will attest this is a great time to get into the Cape Town property market.
|
|
|
|
Article Source :
http://www.articleseen.com/Article_A Cape Town property is a great investment despite talks of slowdown_40998.aspx
|
|
Author Resource :
Find more information relating to cape town properties, and cape town property here.
|
|
Keywords :
cape town property, cape town properties,
Category :
Business
:
Business
|
|
|
|
|
|
