Western Cape property market has shown a higher level of resilience when compared with other nodes in South Africa, with top suburbs close to Cape Town seeing good demand.
This can partly be attributed to the area’s ability to recover quicker and provide homebuyers and tenants with a solid selection of affordable properties.
Read: Good mix of affordable properties to be found in these popular Cape suburbs
In the Western Cape the average asking price for the area is R1.415 million, according to Property24 Trends Data. The average sale price per erf for 2020 was about R950 000, while Section Scheme Units average sale price for the same period is R850 000. Sellers in the area fall within the 50-64 years (31%), while buyers in the 36-49 years fall in (38%) followed by (31%) at 18-35 years.
By comparison the average asking price for property in Woodstock is R2.285 million, while Parklands in Blouberg, further along the West Coast, is seeing properties listed at an average asking price of R1.297 million. The average listing price for property in Sea Point, along the sought-after Atlantic Seaboard, sits at R4.592 million. Zonneblom, situated on the rim of Cape Town's city centre is seeing the average list price for properties in the region of R1.699 million.
Click here to see the latest trend data for Western Cape
Developments in these suburbs are attracting buyers looking for a vibey lifestyle with great amenities. And as the property market sees a surge in first-time buyers, they also offer those looking to break into the property market the opportunity to invest in a new home, without the added transfer duty costs.
Apartments from R1.095 million in Woodstock
Designed by multi-award-winning architects, 1 on Albert offers high-end micro-apartments (from 21m² to 48m²) semi-furnished with the latest in space-savvy appliances and technology. With retail space below, residents will have on-demand access to meeting and eating spots, laundromats, a pharmacy, braai and entertainment areas.
Click here to view.
Apartments from R865 000 in Parklands
Combining the convenience of shopping, transport and living all within a security development, The Grove offers two-bedroom apartments with modern finishes.
Click here to view.
Apartments from R950 000 in Cape Town City Centre
Boasting hotel-style living apartments in the heart of Cape Town’s CBD, The Tokyo has luxury studio apartments sized from 26sqm to 51sqm with a rooftop sunset terrace, pool and braai areas.
Click here to view.
Apartments from R1.45 million in Sea Point
Located on the border of Fresnaye and Sea Point and within a stone throw from the beachfront promenade, Station House will offer studio, one- and two-bedroom apartments, access to a communal pool and braai facilities. Flexible options such as furniture packages and short-term letting solutions are available.
Click here to view.
Apartments from R1.89 million in Zonnebloem
Only a stone's throw away from the city, tourist spots and highways, this development offers modern two-bedroom apartments, a good-sized gym, large communal pool and deck perfect for gas braai and entertaining
Click here to view.
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions.
Print
