10 August 2006

Bubble In Johannesburg

It's not just in Cape Town. Here' a report about Johannesburg's attempt to revitalise the inner city by building high price designer flats

Designer flats empty


Despite the perception that downtown, inner city living is fast becoming a preferred choice among Jo'burg's trendy set, owners of upmarket office-to-flat conversions are apparently battling to find tenants.

Property commentators say it's one thing for developers to sell high-end CBD products off-plan to buy-to-let investors - typically priced at between R10 000 and R15 000m² - but to let these units once completed is an entirely different matter.

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