There’s never been a better time to buy property than now.
That’s what someone you know will tell you at some point in the next few days / weeks / months, neglecting to tell you that the actual best time would have been many years back before you had to harvest your organs to afford a monthly bond payment.
In case you’re not clued up South Africa’s most expensive suburb is none other than Clifton (as it was back in 2015), and if you thought prices had hit a ceiling you’d be wrong.
Apparently we have wealthy Joburgers to blame, but I’ll hand over to BusinessTech for the body blows:
…the average price for a house in Clifton has jumped R2.84 million to R33.3 million – the highest average for any suburb in South Africa…
Joburg and Gauteng buyers have dominated the high-end Cape Town property market in 2016, buying up 12 top end homes to the total value of almost R350 million.
Sjoe, coming here with your strong Jozi rand and pricing out the locals. Not cool guys, but let’s get more specific – some of those Vaalie purchases:
- a luxury home in Kloof Road, Clifton was sold for R62 million;
- a sale in Ave Alexandra in Fresnaye went for R75 million;
- a R34 million property in Kloof Road, Bantry Bay; and
- R47 million, R29.5 million and R28 million properties in Camps Bay.
It’s time for Capetonians to fight back. Let’s all flood to Jozi and buy up property with the best views of the…um…
Actually nah, I think we’re good.
[source:businesstech]
