With its eclectic blend of characterful suburbs, the Mother City is sure to suit everyone's lifestyle needs and preferences.
In fact, no matter what your lifestyle choices and needs, it’s said that you’ll always find your perfect fit in the Mother City’s eclectic compendium of characterful suburbs, says Claude McKirby, Co-Principal for Lew Geffen Sothebys International Realty in the Southern Suburbs and False Bay.
“And, although Cape Town might be known for having higher property prices than the other metros, there is still excellent value to be found, even in areas that offer the quintessential coastal lifestyle."
Cape Town City Centre/CBD (Cape Town City Bowl)
According to Ross Levin, licensee for Seeff Atlantic Seaboard and City Bowl, the CBD remains a popular investment area for the high rental demand given the proximity and walkability to places of work. While the area experienced some pressure during the Covid Lockdowns as a result of business closures, it is expected to bounce back as the market and tourism are increasingly open to full capacity.
Immediate access to businesses and lifestyle amenities are all part of the attraction. It is also close to the Cape Town Stadium, Waterfront and attractions of the Atlantic Seaboard. The area comprises a large number of apartment blocks with older units along with new builds and renovations as well as hotel apartments, says Levin.
Why invest? The CBD apartments offer excellent location and walkability making them ideal for residential and as well as rental purposes. They are in high demand and since the start of the Covid-19 pandemic (i.e. April 2020 to date), around 255 apartments have sold to the combined value of over R605 million. Price growth in the CBD has been outstanding over the last 7-years.
With the lockdown restrictions gone, life is quickly returning to normal in the city and with that people will start looking for apartments to rent and buy again. The CBD rental market is a star performer in terms of inner city residential areas in the country, notes Levin.
You can still find apartments below R1.5 million. Prices though tend to range from around R1.5 million to R3.5 million with top end apartments and new builds/renovations often priced upwards to about R5 million to R10 million at the top end.
Click here to see all the sale and listing price trends in Cape Town City Centre
Pinelands and Thornton (Cape Town Southern Suburbs)
According to Pauline Hareb, sales manager for Seeff Pinelands, the suburb of Pinelands and neighbouring Thornton are popular for their central location and quick access to the CBD and Atlantic Seaboard to the one side and Southern Suburbs, to the other side.
Pinelands is renowned for its beautiful family homes and more recently, the addition of the first new apartment block in 25-years, PineworX which offers excellent pricing for such a prime location, especially given that the Old Mutual head office is in the area.
Why invest? Pinelands is a great area for families and professionals with fabulous family houses and access to great schools combined with an ideal central location. Property values have been sustained, and the suburb is regarded as a good investment. The addition of the PineworX apartments add a further investment element in that these will be great for rentals.
Apartments are in high demand and the PineworX apartments are hot sellers which means buyers and investors need to get in while there are still units available.
Apartments range from R845 000. For houses, the most popular price band is below R4 million with these homes tending to sell quite quickly. It is even more affordable in neighbouring Thornton where houses below R2.7 million are the most popular and fastest sellers. There is currently a lack of stock in both neighbourhoods making it a good time for sellers to get into the market.
Click here to see all the sale and listing price trends in Southern Suburbs
Century City (Cape Town Milnerton area)
According to Adrian Louw, manager for Seeff Century City, the suburb is regarded as one of the best investment suburbs offering a beautiful neighbourhood with stunning views of Table Mountain and lots of greenery including urban parks and water canals.
The suburb enjoys an excellent central location with fabulous views of Table Mountain and out to Table Bay and a 15-minute drive to just about anywhere. The suburb offers excellent walkability and is also on the MyCiti Bus Route. You have immediate access to everything that you need including places of work, the Canal Walk Super Mall, medical and much more.
Why invest? Century City is regarded as a top location for residential purposes as it offers immediate access to places of work in the suburb. For this reason, it is also in high demand for rental and is considered to be one of the best investment suburbs in the city. It is a top-class neighbourhood developed by Rabie with modern buildings and beautiful greenery. Property values have also grown and held up well during the economic downturns.
However, Louw says stock levels are declining which means it is a great time for sellers provided they price according to the current market. “We are currently seeing a lot of first-time buyers who are looking for two-bed apartments under R2 million – these also tend to sell the fastest.”
The property comprises a mix of apartments and townhouses in various complexes, some of which overlook the canals. Expect to pay upwards of around R1.5 million for a small one-bed apartment, two-bedroo units range upwards of R1.85 million while new builds and top-end properties tend to range upwards of R4.5 million to about R7.5 million and a rare penthouse on the market at the moment is priced at R11.5 million.
Rental demand is always high, rates range from R11 000/month for a one-bed unit, upwards of R15 000/month for a two-bed unit and upwards of R18 000/month for a three-bed unit.
Click here to see all the sale and listing price trends in Century City
Blouberg (Cape Town Western Seaboard area)
According to Clinton Martle, licensee for Seeff Blouberg, the suburbs of Blouberg, Big Bay, Table View, Parklands and Sunningdale have been some of the best performers in the country since the onset of the Covid-pandemic.
“In reality, these suburbs have enjoyed excellent activity for some ten years now, boosted by a demand for the coastal lifestyle and access to excellent amenities as well as the affordability of homes in the area.”
That said, Martle says while affordable, there are now luxury pockets where prices are increasingly reaching the R5 million to R10 million range. The greater area has been particularly attractive to semigration buyers and has also increasingly attracted investment into property by foreign and African Expats living in the country and international holiday/second home buyers.
Fabulous views, plenty of green belts, seeing Table Mountain every day and access to one of the top KiteSurfing beaches in the world are just some of the attractions. There is also a fabulous promenade overlooking the main Blouberg Beach due for upgrading shortly which is lined with eateries.
Why invest? The area is in high demand, yet still offers accessible pricing making it a great investment area for own residential use, but also for rental and holiday investments. There are top facilities including the new Table Bay Mall, two top hospitals, medical centres, retail and services to meet every need along with more than 20 schools including many private schools.
The area is renowned for its high volume of security complexes and estates with many developments still taking place around the Sandown and Parklands North areas. The greater Blouberg area continues the trend of high demand driven by a mix of local as well as semigration buyers and investors.
Big Bay apartments range from around R2.5 million. Parklands apartments from around R900 000 and duplexes from around R1.2 million. Houses range from around R1.5 million for a small house in Parklands and upwards of R1.8 million in Table View.
Sunningdale is a beautiful “garden city” with fabulous houses priced from around R2.4 million, but expect to pay upwards of R3 million for new builds. Parklands also offers luxury homes upwards of R4.5 million.
Click here to see all the sale and listing price trends in Blouberg
Goodwood (Cape Town Northern Suburbs)
According to Johann Groenewald, licensee for Seeff Goodwood, the suburb is popular for its well-priced properties offering a mix of apartments, townhouses and houses. The suburb offers an excellent location with convenient access to amenities including shops, schools, medical care and more. It is well-located to the Grand West Casino Complex for leisure and entertainment as well as the N1 City Mall, several value centres and also the Canal Walk Shopping Centre.
Why invest? Goodwood offers excellent value for money and is great for first-time buyers. There is also high demand for rental property in the suburb, hence offering the opportunity to invest in the rental market, provided you work with a local area agent who can give the right advice, says Groenewald.
“With more people moving into the Goodwood areas, there is good demand but not always enough well-priced properties to go around, again just reiterating that working with a good local agent is important if you want to achieve a successful sale.“
Younger to middle-aged families are the most frequent buyers and they are looking for neat compact homes which offer the most facilities.
It takes around 6 to 8 weeks to sell a property in the current market, but generally longer for over-priced properties. Any discounts agreed to on a final sale can be anything between 5% to 10% below the asking price depending on the willingness of the seller to negotiate, notes Groenewald.
Family homes with a flatlet range from R1.7 million to R2 million and are in high demand. Also, in high demand are two-bed apartments in the R700 000 to R1.2 million range.
Rentals of family homes with good facilities and security are in high demand and range from R12 000 to R16 000/month for three bedrooms. Apartment rentals range from R7 000 to R9 500/month for a two-bed unit.
Click here to see all the sale and listing price trends in Goodwood
Muizenberg (False Bay)
According to Paddy Mow, an achiever agent with Seeff Muizenberg, apartments in the Muizenberg area are great investments for own use, but also for holiday properties.
She says demand is driven by a mix of local and international buyers and investors looking for an apartment in this surfing mecca. At the heart of Muizenberg’s attractions is the fabulous surfing beach which is abuzz with surfers just about all year round. Surfers Corner on the beachfront is a well-known hotspot. Here, visitors and residents are spoiled for choice with coffee bars, restaurants and pubs. Living in Muizenberg is like being on a year-round holiday.
Why invest? Muizenberg is the country’s top surfing hotspot and offers a fabulous beach lifestyle and a “barefoot” lifestyle where you can practically walk to everything. It offers a great location on the False Bay side of the City of Cape Town. You also have access to the attractions of the Southern Suburbs. From the late 2008 to pre-Covid period, due to the unique rental investment opportunities, beach apartment prices grew by an impressive 200%.
Three-bedroomed penthouses and two-bedroomed sea-facing apartments are currently achieving the highest prices as those who want a beachfront location are generally prepared to pay a premium.
Beachfront apartments range from around R1.2 million to R3.7 million on average.
From a rental perspective, there is always demand for short and long-term rentals. Seeff recently rented a one-bed furnished apartment for R10 000/month as well as a one-bed ground floor garden unit in Melrose Village for 10 000/month.
Click here to see all the sale and listing price trends in Muizenberg
Diep River (Cape Town Southern Suburbs)
Chad Belcher, an intern agent with Seeff Southern Suburbs says Diep River is a fabulous little neighbourhood which lies alongside Plumstead, Heathfield and The Vines. It offers access to the Diep River Station and offers local amenities as well as those on offer in the Southern Suburbs.It is also close to the beaches of False Bay. Diep River offers a mix of apartments and houses with accessible pricing often being a strong feature. First-time buyers and families alike find good value in the suburb.
Why invest? Apartments are good investments in the suburb, especially in the new Tutili Place which, for the first time ever, also offers inclusionary housing apartments with very accessible prices. These are located at the low end of the market to enable entry-level buyers to get into the suburb who might not otherwise have been able to do so, says Belcher.
There is strong demand for more accessibly priced properties, especially convenient lock-up-and-go apartments and units for first-time buyers.
Prices range from R694 000 for a studio apartment and from R830 000 for a one-bed unit. Apartments such as those in Tutili Place are excellent rental investments and are expected to achieve monthly rental rates of R6 000 to R7 500/month.
Click here to see all the sale and listing price trends in Diep River
Durbanville (Cape Town Northern Suburbs)
According to Fanie Marais, licensee for Seeff Durbanville, the greater Durbanville area is one of the most popular for buyers, not just from around the Cape, but also those looking to semigrate to the City of Cape Town.
The area is renowned for its great lifestyle, access to top-class amenities and top schools. A stunning semi-rural lifestyle combined with beautiful views of the surrounding vineyards and hills and you can also see Table Mountain from here.
Durbanville and neighbouring Welgedacht are ideal for those who enjoy an outdoor lifestyle. The suburbs offer lovely tree-lined lanes as well as some green areas where you can hike or cycle including among the vineyards. On your doorstep, you have access to top wine farms where you can enjoy a wine tasting, meal or hike or cycle through the vineyards.
The area is home to a broad choice of properties, from entry-level apartments and townhouses to large family houses and luxury estates.
Why invest? The Durbanville and Welgedacht area are solid neighbourhoods, well established, offering quality homes and a top-class lifestyle. It has a bustling business centre with many shopping areas including the Tygervalley Shopping Centre along with many smaller centres where you can find great coffee shops, eateries, boutiques and more. It is an area where you can enjoy a fabulous lifestyle, build a life, and raise children in a wholesome environment.
The Durbanville and Welgedacht area has become very popular with semigration buyers looking to move from other inland provinces to Cape Town. They see these areas as ideal suburban areas which are well-suited to families, notes Marais.
Apartments range from around R1.2 million to R3.5 million. Townhouses range from R2.5 million. Houses range from around R2.8 million to R4.8 million depending on the area. Homes in luxury estates tend to range around R4 million to R8 million on average, but upwards for high-end properties.
Click here to see all the sale and listing price trends in Durbanville
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*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.
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