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Viable housing in the Cape Town property boom
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Posted On :
Nov-09-2010
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Article Word Count :
512
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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.
If you want a basic Cape Town property in an Atlantic suburb as a second home which is a good investment, the following should help you achieve it. At the cheaper end of the spectrum are quaint suburbs like Green Point or Anchor Bay, Sea Point or Mouille Point. Made up of apartment blocks and smaller cottages, there are still affordable gems to be found here like sea view bed-sits that still sell for R700,000. This won’t last long though as only in the last year Mouille Point has shown a price increase of a staggering 193%.
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.
South Peninsula and its lovely townships can offer a number of extremely viable Cape Town property options for the buyers with a budget under 3 million Rands. These economical gems can if you are lucky come with a view and if you keep looking have beach front access
A detached home with 3 bedrooms can be yours in Kommetjie under 2million Rands, a quaint cottage for 1.25 million Rands in Scarborough. There are also other such reasonably priced deals available in Fish Hoek where one can obtain 1 or 2 bed apartments for as little as 500-600,000 Rands. Detached homes in Fish Hoek go as little as 850,000 Rands to 1.4 million.
A great Cape Town property market is in Central City where you can get a 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.
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Article Source :
http://www.articleseen.com/Article_Viable housing in the Cape Town property boom_40989.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,
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Arts and Entertainment
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