It is the business hub of the Western Cape, the seat of National Parliament and a tourist mecca. Updated daily by Cape Town estate agents Over the same period, a total of 480 leases were concluded by the City’s property management department, with a value of approximately R2.3 million a month. Nutrition & Wellness, Chemicals of Bedrooms. Bree 16 Street. Additionally, the competitive landscape of the South African residential real estate market is depicted through the profiles of active key players. Swipe To … Click here. The sales of sectional title properties aged 30 to 39 years outperformed in terms of average property growth per year, at 4.7% to other age bands of properties. m. per month, while the same property in Cape Town is … Most provinces saw low rental growth and a deterioration in the average tenant’s financial situation from 2017 to 2018. Cape Town's Central City continues to attract a varied market of buyers and investors It’s been 10 years since the ‘re-birth’ of Cape Town’s Central City as a residential zone got underway. Renting a Cape Town apartment will cost from around USD 15 to USD 17 per sq. The poolsides are quiet in Cape Town’s V&A Waterfront district. It is one of the most stable residential markets in Cape Town, because of its prime central location and vibrant cosmopolitan lifestyle. A study released by FNB charts just how the real estate market is struggling in the south-west. To understand key trends, Download Sample © 2021. & Communications Technology, Investment Payment Failed. 5 Bathrooms. & Tourism, Information South Africa is Africa’s second-biggest economy, with an estimated population of 57.7 million and an estimated GDP per capita of USD 6,377 in 2018. The current situation is with high vacancies and low escalations across most of the country, fueled by lower than normal demand in 2019. Cape Town enjoys a booming real estate market driven by migration to the city and property prices can be extremely high. Increased security, affordability, and the communal lifestyle are all alluring aspects when potential buyers consider sectional title properties. 5 Bedrooms. $ 1,067,747 USD. ", We use cookies for a better user experience. 0 bed 1 bed 2 bed 3 bed 4 bed 5+ bed Other R 0 R 5 000 000 R 10 000 000 R 15 000 000. No. Goods and Services, Financial 3 graphs that show how Cape Town’s property market is turning. 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While this rate was lower than the year before, it was the province’s first increase in quarterly growth in two years, which may signal the beginning of a recovering rental market in the province. All offers welcome! It focuses on the market dynamics, technological trends, and government initiatives taken in the residential real estate sector. There are several opportunities in the sector, which are brought about by high demand for student accommodation and gated communities, and urban renewal and regeneration projects. our privacy policy, By submitting, you confirm that you agree to our privacy Report scope can be This was 4.84% more than the 2017 rentals and the third-highest growth rate in the country for the quarter. The report provides key insights into the South African residential real estate market. Find the best offers for your search cape town real estate market. Primal therapy: Can I scream my anxiety away? Most of the real estate companies see some of their biggest sales from properties in the Western Cape. The Residential Real Estate Market in South Africa is segmented by Type (Condominiums, Villas, and Other Types), Key Cities, and Other Urban, Suburban, and Rural Markets. Affordability is a further factor favoring sectional title. It is one of the most stable residential markets in Cape Town, because of its prime central location and vibrant cosmopolitan lifestyle. Cape Town, Western Cape, South Africa 5 bedrooms - 5 baths. 2. "As we have seen a significant sale price decline in this segment, nett yields remain relatively low, typically between 1 to 3 percent in blue chip areas and 4 to 6 percent in outlying suburbs. 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Mayco member for economic opportunities and asset management James Vos said: “This may seem insignificant in terms of the economic challenges we face, however, these property management transactions will help us on the road to economic recovery and help us create jobs.”. Profiles also include developers RDC Properties, WBHO, and Renprop. 46 Properties in Cape Town from R 450 000. Cape Town, SA’s top tourism destination, is set to be among the top-20 performing cities in terms of house price growth, global property services group Savills says in a report. Also, the report sheds a light on the key trends in the market, like factors driving the market, what are the restraints to the market growth, and opportunities going forward. Cape Town’s prime real estate market is set for prosperity in the year ahead, with prime forecasts growing by 5% this year, according to independent research. Future of the Market and Analyst's Recommendations. During the last 12 months the real estate prices in Lee, Cape Coral City increased, looking at the past 12 months. These units are known as townhouses, flats or apartments, and duet houses. But low projected growth rates and a slowdown in economic activity can limit expansion and new development. This reflects pressure on household incomes and an oppressed macroeconomic environment. Most of the real estate companies see some of their biggest sales from properties in the Western Cape. Please be sure to check your spam folder too. It is famous for landmarks like Table Mountain, its beaches and vibrant economy. Like us on Facebook to see similar stories, How Capetonians came together to apprehend alleged Table Mountain arsonist, Britney Spears' mom Lynne objects to her father Jamie's hefty attorney fees, Dealing with winter skin can be an itchy affair - here’s how to deal with it, Not long to wait for Mamelodi Sundowns to learn CAF Champions League fate, New report lays bare problems with govt's free electricity access policy. "Sorry! The definition of a sectional title unit is a property in an undivided share of common property. Your payment is successful. Historically, the rental demand increased during tough economic times, but this is not happening currently. Explore Cape Town and browse residential and commercial properties including apartments, flats, farms, private property, townhouses, clusters, penthouses ,vacant land, small holdings, offices, industrial, retail and houses for sale and rent in Cape Town. Cape Town, Western Cape, South Africa. Property development is not showing signs of slowing down, but developers are struggling to increase occupancy rates due to oversupply. This is all good news for landlords, as millennials form a ready-made market for buy-to-let properties. In Gauteng, the average rent breached ZAR 8,000 for the first time in Q4 2018. In South Africa, this market trend has continued for years, creating a need for new investments and new homes for sale in South Africa. Pour Salt Down Your Drain At Night, Here's Why, People who really went the extra mile when they quit. Cape Town. There are many reasons for this. R16,900,000 ZAR. R15,500,000 ZAR. The Cape Town property market is supported by international buyers including high net worth individuals from other African countries and what South Africans call semigration from Gauteng. Greeff Christie’s International Real Estate said that the market shifted into a buyer’s market. The average Western Cape rent surpassed the ZAR 9,000 mark during 2018, making it the most expensive province to live in, with an average price differential of nearly ZAR 1,000 compared to the second-most expensive province.