If you have considered listing your property for sale in Soweto and relocating to the Mother City, then you may be interested in taking up one of the most popular property options in the province – apartments.
There is good reason for the popularity of apartments, and the one major benefit is that it offers excellent growth potential along with the opportunity to get good rental returns if you are simply looking for a new investment.
Explaining some of the reasons why consumers are looking for apartment options in Cape Town, Christopher Hajec, a licensee of Fine & Country, said, “In a city that is limited in space as it is bordered by mountain or sea, apartments offer a way to provide the density needed to accommodate the demand of locals who want to be in the city and outside of Cape Town’s congested rush hour traffic.”
It is important to note that some apartments in or around the city can fetch prices of up to R45 million, but for the average consumer, the most important factor in their rental decision is affordability.
This plays perfectly into the required ‘lock-up and go’ lifestyle that many young professionals crave, while luxury apartments play into a similar need for families looking for holiday home options.
In terms of your returns, if you rent out your apartment on a short-term basis, you could look at up to 12% more in returns despite the fluctuations in the market at present.
So if you are thinking about moving to the coast, or simply want a smart investment that could allow you to make a decent profit, the Cape Town apartment scene may offer the best value for your spend.
