Cape
Town is commonly regarded as one
of the most beautiful cites in
the world set between Table Mountain
and its gorgeous sandy beaches.
With positive immigration from
the UK, a growing economy, all-year
moderate climate, very low property
prices and host to the World Cup
in 2010, Cape Town is touted to
experience continued property growth.
Moreover, the buying process is
relatively simple and the land
registry system reliable. Due to
a strong tourism market in Cape
Town, the rental market is also
mature.
Most analysts agree that of South
Africa's 9 provinces, the the ‘Western
Cape’ will continue as the
most expensive market out of the
nine provinces, driven by land
scarcity. Within the city the districts
most likely to perform well are
Claremont, Sandton and Muizenberg.
What do the Analysts Say?
- Money Web: ‘Prices are
set to almost double over the
next five
years.’ (2006)
- FNB Commercial Banking: ‘Average
property prices have grown from
R227 000 in 1998 to R633 000
in 2004’ – a
growth of 80% in 5 years (2006)
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