Several high-end Cape Town properties sold for between R26 million and R70 million this year, signifying strong performance in the South African property market, Cape {town} Etc reports.
Several high-end Cape Town properties sold for between R26 million and R70 million this year, signifying strong performance in the South African property market,‘Confidence has returned to the luxury property market, driven by positive sentiment, improved financial conditions, local stock markets, and stable government.’Looking for things to do in the city at half the price? Let these great offers inspire you.
The Constantia Upper home sold for the asking price of R54 million through Pam Golding Properties. Picture: Pam Golding Properties The company also closed individual sales on homes for more than R20 million in the Boland and Overberg regions, including a modern home in Pearl Valley at Val de Vie Estate near Paarl, which sold for R30 million to a local South African buyer.The lower end of the property market has also seen notable improvements with lower interest rates. ‘The lower end of the market, including first-time home buyers, is particularly sensitive to the higher interest rates currently applicable,’ Golding said.
‘This anticipated rebound in first-time buyers is likely to see stronger demand for homes around the R1 million mark in urban nodes, which typically means sectional title properties,’ Golding added.
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