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The Cape Town property market is neither depressed nor struggling.
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Posted On :
Nov-10-2010
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Article Word Count :
529
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If you have been waiting for the right time to invest on an Atlantic Seaboard property in Cape Town, the time is now. The Cape Town property market is neither depressed nor struggling. If I had to use a word to describe its present conditions I would say it is reflective. The prices are slowly stabilizing, the sense of desperation that signifies speculative runs is dieing down. The feeling of urgency, which is the downfall of the amateur investor, has gone and the market is slowly rationalizing.
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If you have been waiting for the right time to invest on an Atlantic Seaboard property in Cape Town, the time is now. The Cape Town property market is neither depressed nor struggling. If I had to use a word to describe its present conditions I would say it is reflective. The prices are slowly stabilizing, the sense of desperation that signifies speculative runs is dieing down. The feeling of urgency, which is the downfall of the amateur investor, has gone and the market is slowly rationalizing. Proper negotiations are now possible so that you can bring sellers down from their high horse and get the best deal on your Cape Town property.
Cape Town comes with a mild Mediterranean climate all year to live in and gives you the option of waking up every day to a sunrise that is right of an impressionist canvas. This is one of the biggest reasons why your Cape Town property is in one of those lucky places like Tuscany where everybody in the world wants to have a home.
Premium location, the best quality in housing, communities that are diverse, these are just some of the reason why the world wants to own a Cape Town property. Between December and March the real estate scene is in flux as everybody is trying to hire a villa or apartment to see what everybody is talking about.
Sandwiched between the Coast and the Table Mountain there is only so much land available for expansion on the Atlantic Seaboard. It’s definitely not enough to cater to the demands of both foreign and domestic buyers. Since all constructions are limited to an imaginary line that ends at the National Park even the new developments are restricted. South Africa has 10% of all the flora on Earth and all care is being taken to safeguard its 8000 plant species.
Since the availability in the Cape Town property market is capped by these restrictions, supply is limited. The demand however is increasing every day. The Local economy is prosperous, ex pats are returning home every day and foreign visitors come, fall in love with the milieu and decide to stay, the Cape Town property market tries to cater to this increased demand for these premium properties.
Recently a bungalow on Clifton Ridge sold for an unparalleled R31 million. Beach facing apartments have been known to fetch upward of R28-million. Even though for the average homeowner these prices can seem unreal the truth is that the prestige property market world over seems to have weathered the downturn extremely well. Clear indications show that the Atlantic suburbs of Cape Town remain clear favorite for investors both domestic and foreign.
Demand in the Cape Town property market is fast overtaking supply. It has increased so much since 2005 availability is fast diminishing. If you are still seeking to invest don’t despair as there are still a lot of developments being planned and they will soon be in the market. This is a strong indication of how confident the market is of growing in the years to come.
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Article Source :
http://www.articleseen.com/Article_The Cape Town property market is neither depressed nor struggling._41021.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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