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Where will you find an affordable Cape Town Property in these days of scarcity?
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Posted On :
Nov-10-2010
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Article Word Count :
514
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Even with the last year and half of global market contractions the Cape Town property market has only been marginally affected. It is a generally known fact that in comparison to the world property markets the Cape Town property market has been significantly undervalued. Even though in the recent past there has been some bridging of the gap in place like the Cape Town properties for sale, it is till extremely competitive.
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Even with the last year and half of global market contractions the Cape Town property market has only been marginally affected. It is a generally known fact that in comparison to the world property markets the Cape Town property market has been significantly undervalued. Even though in the recent past there has been some bridging of the gap in place like the Cape Town properties for sale, it is till extremely competitive.
The demand in the Premium Cape Town property market is still strong especially consistent along the Atlantic Coast, where it has held its own even under fiscal pressures. The area is still South Africa’s second most popular tourist destination. Even though the Rand is going strong a significant amount of sales are made to foreign nationals. What is even more heartening is that a considerable amount of the sales are done to South Africans, which shows their confidence in the countries economy.
Yet affordable housing is not a fantasy as there are still certain Cape Town suburbs that will give you the quality of life that you want without putting you in debt forever. A well built and decent home between R600, 000 to 3 million Rands is not a myth. Starting from compact apartments favored by young couples to larger detached homes there is still value for money to be got in the Cape Town Properties for sale if you know where to look for it.
One of the best examples of this is the Western Seaboard. Not as pricey as the Atlantic Seaboard, Cape Town’s western coast has always been popular with younger first time buyers. The perfect destination for young couples, professionals and retirees there are a lot of good Cape Town property here that are well built yet easy to maintain.
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. If you are still wondering if it is worth it to invest now and not wait for the finance situation to improve don’t because investing in a Cape Town property is always a sound decision as you won’t have trouble finding tenants or future buyers.
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%.
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Article Source :
http://www.articleseen.com/Article_Where will you find an affordable Cape Town Property in these days of scarcity?_41014.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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