Apex 03-18 LB

Cape Town Property Price Explosion

Average property prices on the Atlantic Seaboard in Cape Town grew by a massive 22.9 per cent in the final quarter of 2016, and there is no sign of a slow down in property price growth.

This area of Cape Town stretching from Green Point to Hout Bay has seen property prices more than double in the past four years, and prices have risen by nearly 700 per cent since 2001, according to data from the Cape metro deeds office.

Cape Town and the surrounding Cape area has been the go to place for both South African nationals and overseas property investors looking to invest in South Africa for some time now.

The Cape metro has seen property price inflation running at double the national house price index over the last five years.

After the Atlantic Seaboard region, the next best performing area has been the City Bowl which has seen a leap in property prices of around 90 per cent over the last five years, and nearly 550 per cent since 2001.

The Eastern Suburbs of the Cape, including Woodstock, Salt River and Pinelands has also shown a good return for property investment, with prices rising over 70 per cent since 2011 and over 430 per cent in the last 15 years.

The Southern Suburbs and Southern Peninsula have also seen property prices rise healthily by over 60 per cent in the last five years and over 400 per cent since 2001.

The strong property price growth in the above areas has helped the overall Cape Town Metro area to record average growth of around 60 per cent in the last five years, and just short of 400 per cent since 2001.

As always with overseas property investment, location is key in the Cape area to achieve the maximum return for your investment. So it pays to do your research and find a good local agent.

Be the first to comment on "Cape Town Property Price Explosion"

Leave a comment

Your email address will not be published.


*


Navigate