More than half of the Cape Town CBD apartments left empty during the first year of the pandemic were filled by the end of 2021.
When it comes to average rental prices it’s no surprise that the Western Cape leads the way.
There’s a slow and steady return to ‘normal’ and it looks like this summer will be a cracker for South Africa’s luxury property sector.
Cape Town’s problems stem from a ‘double whammy’ of holiday rentals converted to long-term rentals, and the ability to work from home.
For residential property landlords who bought with the idea of letting them out, either via Airbnb or long-term rental, the past year has not been kind.
Over the past 12 months, rental agents have noticed a shift, with more and more tenants considering life in the ‘burbs.
We’re used to shelling out high rental prices in Cape Town, but what might get you something decent here, will land you a hovel in New York.
If I’m paying R35 000 a month to rent a one-bedroom apartment, I better be getting something majestic.
With more and more tenants defaulting on rental payments, and an increase in vacancies, many landlords find themselves under immense pressure.
The Camps Bay strip is always prime property, and this listing, from Seeff, is about as close as you can get to the beach without waking up with sand between your toes.
With many rentals now on the market at reduced prices, this “light and bright” apartment with great views over Green Point is worth a closer look.
If you’re after “opulent elegance right on the water”, “built with luxury in mind” and “only the finest furnishings and fittings”, you’ll like this gem.