panormaic view of table mountain, atlantic coast and cape town city bowl from lions head cape town relocation and property specialists  storm and rainbow over table mountain and twelve apostles  cape town wine farm  victoria and alfred waterfront cape town period cape dutch properties for purchase and rent in hout bay and constantia cape town
panormaic view of table mountain, atlantic coast and cape town city bowl from lions head cape town relocation and property specialists  storm and rainbow over table mountain and twelve apostles  cape town wine farm  victoria and alfred waterfront cape town period cape dutch properties for purchase and rent in hout bay and constantia cape town
Main Menu Ask a Question
BLOG

Cape Town Living : Why Foreign “Swallows” Are Swooping On Homes In The Suburbs

Posted on: July 15th, 2016

IMG_2496

With the rand at a record low, visitors are buying into the Cape Town Living lifestyle. The spectacular citys cape of cliffs and sea, dominated by Table Mountain, is undoubtedly part of the appeal. As is the climate dependably warm but rarely more than 30C.

The rand has halved since Jacob Zuma came to power in 2009, since 2014 thanks to the diminished Chinese appetite for commodities, the rand has plummeted from 10 to the US dollar to 15.

IMG_2498

Sales to foreigners in the Cape soared 28% in 2015 compared to the year before and the total value of sales was up 21%. The standard of real estate available at these prices globally doesn’t begin to compare to what Cape Town offers by way of accommodation, size and quality of life with high end homes available for less than $1m.

Prices are rising. In the past 2 years, international interest and a shortage of stock have driven prices up 25% in rand terms according to a recent report, in certain areas such as the Atlantic Seaboard apartments have risen by over 50% in the same period.

The most popular suburbs are City Bow, Camps Bay, Llandudno, Hout Bay and Constantia.

enhanced-30015-1401718302-20