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How the World Cup has changed the Cape Town Property Market
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Posted On :
Nov-10-2010
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Article Word Count :
500
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It is now a given that the FIFA World Cup has huge impacted South Africa as a whole. It has brought in record number of tourists and had a huge impact on the Cape Town property market. The biggest change is in the number of foreign investors and in market evaluation.
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It is now a given that the FIFA World Cup has huge impacted South Africa as a whole. It has brought in record number of tourists and had a huge impact on the Cape Town property market. The biggest change is in the number of foreign investors and in market evaluation.
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.
The biggest change is in the premium real estate in then Cape Town property market. This is so because of the number of purchases that has been made by international celebrities in the run up to and after the World Cup. Real Estate watchers report that there has been an increase in high profile interests in the last months. Of most interest to these celebrity buyers are the coastal properties. This means a high interest in the real estate of Cape Town properties for sale in the Atlantic Seaboard. Also interest has been shown by dignitaries, political figures, members of the elite and wealthy class who all want a piece of the Cape Town property market. High profile visitors from the US, UK, France and Italy who where Visiting during the World Cup have also shown interest in buying properties in Cape Town suburbs.
Of significant interest are sporting celebrities like Roger Federer, Jonas Bjorkman, Nick Price, and Graeme Smith who have shown interest and even slipped in incognito to view property without calling attention to themselves.
The type of Cape Town property that is of most interest to them is far beyond the reach of the average buyer. They range from towering glass beauties on the Atlantic Coast to Old Dutch Homesteads with vast acreage that can be renovated into modern marvels while keeping the traditional architecture. Some of these premium properties can sell for anything between 15 million Rand to 100 million Rands. So much so that the Atlantic Coast between Green Point to Hout Bay and beyond is being referred to as millionaires’ row. Of special interest are areas like the water front in Cape Town proper with its views, position and the luxury houses.
That the stupendous success of this World Cup will change how the world thinks about South Africa is a given. 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.
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Article Source :
http://www.articleseen.com/Article_How the World Cup has changed the Cape Town Property Market _41049.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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