[imagesource:here]

What do you get somebody who has it all – the mansion, the fancy cars, the designer clothing?

Well, you get them a parking bae bay, because nothing is a more Capetonian way of showing your love and affection.

In 2017, we covered a Clifton parking bay that was flogged for R995 000, and it would appear that this is a neighbouring bay, if not the same bay, now up for sale for R1,25 million.

I guess whilst the property market, in general, is struggling, parking bays are on the up and up.

Below from Business Insider SA, as are the two images:

“For a parking to be available in a such prime location like this is incredibly rare. Many of the buildings in this area were built in the 1950s where it was common to simply park your car on the street, and now there is a shortage of them,” said Adrien Epstein, luxury property consultant at Dogon Group.

Situated on the roof of San Michele apartment building in Victoria Street, the open-air parking bay offers a splendid oceanic view, private security, and access via the building to one of Cape Town’s most popular beaches, Clifton 1st.

A guaranteed parking like this is extremely sought-after during Cape Town’s peak-season in summer when thousands flock to the beach.  Clifton’s famous beaches are only accessible via long winding staircases. Street parking is limited.

The “rare and sought-after secure parking bay” is listed on Property24 as an apartment, and comes with this single photo:

Back to Business Insider for why this is becoming less and less of an oddity:

…it’s not even a record. In 2017, another parking bay in Clifton sold for R1.65 million.

Other bays were sold for R1 million, and R1.1 million respectively in Clifton and Bakoven.

“We’ve seen garages for more.  But I think [the bay] is correctly priced for what you are getting. You must compare that some of the houses (in the neighbourhood that) sell upwards of R30 million. So for R1.2 million it comes in at a bargain,” said Epstein.

I feel like Epstein is being liberal with the use of the word ‘bargain’ there, but point taken.

Next time your folks ask why you haven’t bought property, feel free to bring this parking bay up.

[sources:businsidersa&property24]