Homes in Cape Town's suburbs are selling fast – especially those under R2 million
for the total value of residential building plans passed and completed.
Recent high-value sales to international buyers, cited by Ross Levin, licensee for Seeff, include R24 million at The Waterclub to a German buyer, R22.6 million at The Bantry Bay to a Swiss buyer, and two sales in Camps Bay for almost R24 million each to buyers from the United States and the United Kingdom.
And property stock in short supply is not just affecting higher-end homes in the City Bowl and along the Atlantic Seaboard. Properties in suburbs such as Goodwood, Century City, Pinelands, and Thornton have also seen a surge in demand, according to Seeff. In Goodwood, for example, there's demand for"neat, compact homes with good facilities, especially family homes with a flatlet in the R1.7 million to R2 million price range and two-bedroom apartments in the R700,000 to R1.2 million range." These properties are selling within six to eight weeks, compared to the average eight to 12 weeks recorded across the Cape Metro.
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