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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
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Here’s how Cape Town property prices have exploded

Posted on: April 6th, 2017

The average prices of Cape Town Property on the Atlantic Seaboard in Cape Town have more than doubled since 2012, and are up nearly seven fold since 2001. And there’s no sign of a slowdown, yet, with a “massive” and still accelerating growth of 23% in the fourth quarter or last year.

Five areas of Cape Town Property outperformed the overall average house price growth seen across the metro over the past five years.

– Atlantic Seaboard ( Green Point to Hout Bay)
– City Bowl
– Eastern Suburbs (Woodstock, Salt River, Pine lands)
– Southern Suburbs ( Rondebosch to Muizenburg)
– Southern Peninsula ( Simon’s town Fish Hoek)

The trend of semigration to the Cape from especially Gauteng has certainly helped demand. Also for foreign buyers Cape Town still offers great value with a weak rand and superb lifestyle, however these buyers only count for a small percentage of overall buyers.

Property expert John Loos from FNB believes that a little over-exuberance has probably crept into the market, especially in the two regions ( City Bowl and Atlantic Seaboard) that have vastly outperformed the rest.

He points to topography as one of the obvious major supply-side drivers, but adds two others : the city’s “growing traffic congestion challenge” as well as “the fact that some of the city’s prime business and employment nodes, most notably the CBD and Claremont, are in close proximity to the mountain.

This should imply a longer-term shift in a portion of residential Cape Town Property demand towards areas closer in proximity to the Cape Peninsula, and we believe it has.

Investment Holiday Home Cape Town

Posted on: January 30th, 2017

Our Client from Tokyo contacted us to source him an Investment Holiday Home Cape Town, he wanted privacy, a real sense of nature, modern with plenty of light. A property that he could use for his vacations as well as renting out, high capital appreciation over a period of 10 years and good rental return was also a necessity.

 

Deck with Stunning Mountain Views

Double Volume Open Plan Living Area

View Of The Outside Deck

Wide Expansive Mountain And Valley Views

Overhead Picture House And Cottage

With a strong demand for private estate living we had to draw on an expansive range of contacts to source this beautiful home in Hout Bay on the Atlantic Seaboard. Ensuring that our client was buying a home which would be in strong demand from tenants meant that the Private Estate route was the way to go.

This property has three en-suite bedrooms, wine cellar, office, tv room, double volume open space, a large deck with swimming pool and parking for eight vehicles. There is also an added bonus of a 90sqm separate cottage. All sitting on over 4,000 sqm of land which is rare in an estate like this.

Distant views of the bay and 360 degree views of the surrounding mountains add to this magical location. Located at the top of the estate with Table Mountain as the backdrop.

We expect the property to achieve a rental of 50-60k a month, Space are retained to sourced tenants and also to manage the property for our client.

We also secured a discount of 1.95 million rand off the asking price for this superb Investment Holiday Home Cape Town.

Family Home Hout Bay Cape Town

Posted on: October 31st, 2016

Our Spanish clients relocation to Cape Town were initially looking for a large 5 bedroom Family Home Hout Bay. After sending some options they quickly realised that it would make more sense buying a property in Hout Bay rather than spending 40,000 zar a month on rent.

Internal Family Home Hout Bay

With children going to the new Hout Bay International School, the Hout Bay valley was the firm target area. This led to a significant challenge to the team here at Space, as there was very little property available in Hout Bay to buy at any budget level, due to the relatively great value of the valley compared to anywhere else along the Atlantic Seaboard. Locals are quickly realising this is an excellent place to live for lifestyle, community, amenities and for good value property.

 

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Beautiful Mountain Views Family Home Hout Bay

We sourced eight properties for our clients to view, by the times we started the viewings, four of these had sold, so we quickly sourced another two that were not officially on the market. After a day of viewings our clients fell in love with a four bedroom family home in Baviaanskloof area of Hout Bay. A hidden gem of an area offering 360 degree mountain views and walking distance to the beach and shopping facilities. The house was completely renovated 5 years ago and offers and lot of accommodation and very high standard finishes.

 

Modern Handmade Kitchen Family Home Hout Bay

Space have helped them with the legal process and was also able to recommend a mortgage broker to assist them with financing. Clients are delighted with their new family home Hout Bay and will move in February 2017.

Cape Town Homes Growth 3rd Highest In The World

Posted on: October 6th, 2016

Knight Frank has published a report placing Cape Town Homes and Property third globally in terms of annual price growth

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Cape Town Homes

The report shows that Cape Town was a top performer for the second quarter of 2016, with the city’s annual price growth reaching double figures in the year to June 2016.

Cape Town’s annual property price growth reached double figures in the year to June 2016 with a 16.1% increase for the 12 months from June 2015 to June 2016.

 

This puts Cape Town in third place for the prime price performance by city with Shanghai in second and Vancouver in first.

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Cape Town is benefiting from a number of factors, including those commuting to Johannesburg for business but residing in Cape Town, a growing trend; a university providing little supply of 6680 residential placements with 27,000 students; an increasingly progressive central business district with increasing residential units and lifestyle options to match including restaurants, bars, art galleries and gyms;international buyers taking advantage of the weaker rand as well as the weather and lifestyle that Cape Town provides.

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

Posted on: July 15th, 2016

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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.

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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.

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Investment Apartment Green Point Cape Town

Posted on: April 6th, 2016

Currently its a sellers market when it comes to buying property in Cape Town and in particular the Atlantic Seaboard area which includes the suburbs of Clifton, Bantry Bay, Sea Point, Camps Bay, Green Point and Mouille Point.

Our client made contact while he was in Cape Town on vacation, he had been looking for an investment property in Cape Town for the past 12 months and could not find anything that matched his requirements. He was referred to us by an ex client as he needed the guidance and reassurance that he had someone representing his best interests, helping him find the best property in the best location at the best price.

Our brief to find an investment apartment , 2 bedrooms, modern, offering good capital appreciation and a great rental return. Within 6 weeks of retaining our services our client flew back into Cape Town to view our shortlist.

Due to the shortage of property on the market we had to use our network to source great property that was not officially on the market. half of our shortlist of 8 properties were not officially on the market.

Ultimately we had a shortlist of 8 properties to view, but by the time the client arrived 3 of the properties were sold, such is the dynamic nature of the market. Fortunately our client really liked the Green Point apartment that we believe was the best option.

A stunning 2 bed ground floor 193sqm modern apartment in the Odyssey building Green Point, just across the road from Green Point park and world cup stadium. 5 minutes walk to the shops and restaurants and 10 minutes walk to the beach. The building is only 2 years old, has 24 hour security, loads of parking and a roof deck with a swimming pool and terrace.

There was already and offer on the table for the apartment, however we used our knowledge and negotiation skills to knock the other offer off the table, and the seller accepted our offer on the same day.

We believe we sourced the property slightly below the market value at 5.7 million rand . Rental return will be good at 35k a month and we should see double digit yearly growth in this building as demand exceeds supply.

A happy client with a great investment property in Cape Town.

 

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Living And Kitchen Area

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External Modern Building

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Large Roof Deck With Pool And Cape Town Views

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Large Master Bedroom

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60sqm Outdoor Entertainment Area

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Large Open Deck Area

 

Most Expensive Cape Town Property Suburbs

Posted on: December 1st, 2015

South Africa’s top ten suburbs boast an average sales price of more than R10million compared to five years ago with Expensive Cape Town Property topping the list again in 2015.

Cape Town Property tops the list with seven of these suburbs including the top Atlantic Seaboard suburbs of Clifton, Bantry Bay, Camps Bay, Fresnaye and Llandudno with Bishopscourt and Constantia in the southern suburbs.

That Cape Town Property tops the list should come as no surprise, its due to the city’s excellent service delivery and confidence in the administration along with the sought-after seaside lifestyle with the fastest inward migration of about 30%.

Despite the lack lustre economic backdrop, we have seen local high net worth individuals and foreigners from across the globe, including G7 nations such as Britain and Germany along with economic hot spots such as Nigeria demonstrates the confidence in these areas by investing their wealth in the top ten suburbs.

Clifton tops the list as the most expensive suburb in the country, with an average price of R20m, this is about 34% higher than last years average.

Llandudno is next , it boasts an average price of R11m, 50% more than it was 5 years ago.

Bantry Bay boasts an increase of 38% higher compared to 5 years ago with an average of R10.5m

Camps Bay with an average of R10m comes in at tenth place, this is some 54% higher than 5 years ago, this year has also seen a notable acceleration in R20m plus sales in the suburb ranging to a top price of R30m for a luxury villa recently sold.

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Hout Bay Exclusive Property

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Camps Bay

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Higgovale Cape Town City Bowl

Bishopscourt and Constantia in Cape Towns southern suburbs now boast an average price of R11m (69% up since 2010) and R10m(54% up since 2010) respectively

SA Buyers Property Market Cape Town

Posted on: July 24th, 2015

Looking at buyer activity for sales in the Property market Cape Town for the first 6 months of 2015 shows local buyers holding the biggest market share.

There is a perception that prices in the area are more suited to foreign pockets due to rand exchange rate but these recent figures have shown its more local buyers.

3 of the highest Atlantic Seaboard house sales in the first 3 months, 60,75 and 100 million rand were to local South Africans.

Its interesting to look at the data and it shows that its still UK and German buyers who are in the majority with a surge of buyers from the USA.

Land Reform Act South Africa

Posted on: February 27th, 2015

Land Reform Act South Africa.

In the recent state of the nation speech the President mentioned Land Reform legislation that the government were planning to bring in which would restrict foreigners buying land.

Initially everyone thought that this applied to both farm and residential land and there was a sharp intake of breath from all stakeholders.

3 days after the speech clarification came from the Rural Development Minister.

The new law applies to farm land only, not to residential land.

The new law will be processed through parliament and signed into law this year.

The government has moved to allay fears on foreign land ownership and wont do anything foolish when applying the law.

The law will restrict foreign nationals on owning farm land, they will however be able to lease for a min of 30 years.

The law will restrict South African Nationals to a max of 12,000 hectare limit.

Property Transfer Tax Increase Announced

Posted on: February 27th, 2015

Property Transfer Tax Increase:

Summary:

As usual there will be some pain and some gain, the average man on the street will benefit but people buying property for more than 2.5 million rand will be hit hard.

  • In a nutshell for sales on or after 1 March 2015, transfer duty will be eliminated for all property acquired up to R750,000 (previous threshold was R600,000)

 

  • Decreased for all properties acquired up to 2.6 million.

 

  • Increase for all properties above R2.6 million.

 

  • For property above R2.6 million the transfer duty will increase from an average of 8% to 11%, a massive increase.