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Cape Town properties are doing a fast turn around
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Posted On :
Nov-10-2010
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Article Word Count :
517
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A mélange of eastern and western sensibilities, an amalgamation of the exotic Middle East, pastoral Europe and vigorous Africa Cape Town is truly cosmopolitan in nature.
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A mélange of eastern and western sensibilities, an amalgamation of the exotic Middle East, pastoral Europe and vigorous Africa Cape Town is truly cosmopolitan in nature.
Blessed with a climate that is Mediterranean, it also has the duality of snow covered peaks in the winter.
Home to some of the world’s best golf, Cape Town is also home to some award winning vineyards that promises a gourmands interest in cuisine. Blessed with both spectacular views and variety of culture Cape Town is the new hot destination for tourists.
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.
Bouncing back from the recession that have affected global markets significantly all over the world, Cape Town property for sale market is improving as more buyers are looking to purchase in the Cape, South Africa.
In demand are Cape Town properties for sale like smaller second homes and apartments that are viable to be used as vacation rentals. Investors are slowly returning as they start feeling confident that these are viable and test water before buying a house.
The market is still volatile as buyers are being very careful before dipping into the Cape Town property market. The most popular bet is still the vacation rental that can start paying its way immediately after investment. The success of the World Cup has definitely helped. As has the fact that 3 million tourists are expected to visit South Africa this year. Buyers are still reluctant to invest in high priced premium properties that have reached a plateau and would not be profitable in the short term.
The Cape Town property market ground to a halt in 2009 as owners decided to wait before selling as they were not getting the prices that they had come to expect. This caused a lot of financial difficulties and now a lot of these properties are back on with prices that are significantly lower.
This is very encouraging for the buyer especially those interested to invest in vacation homes and rentals. The Cape remains a very popular destination for tourists, retirees and people on holiday.
The Cape Town property market with its improved outlook is back to being just right if you are looking to invest in up market homes and beach front houses. Still competitively priced when compared to any where else in the world with similar aspects the Cape is poised to take back its title as the most sought after real estate in the world.
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Article Source :
http://www.articleseen.com/Article_Cape Town properties are doing a fast turn around _41061.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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