Waaaaay back in May we talked about a new block of apartments in Woodstock called Harbour Views, particularly we talked about an 'investor' who had picked probably the worst view possible to advertise the place and was trying to rent it for R3500 a month. Well it seems the apartment is still available except rent has dropped R200 a month. I thought rent was supposed to go up in an environment with increasing interest rates?
01 October 2006
Woodstock Asking Rents Still Dropping
Waaaaay back in May we talked about a new block of apartments in Woodstock called Harbour Views, particularly we talked about an 'investor' who had picked probably the worst view possible to advertise the place and was trying to rent it for R3500 a month. Well it seems the apartment is still available except rent has dropped R200 a month. I thought rent was supposed to go up in an environment with increasing interest rates?
Subscribe to:
Post Comments (Atom)
1 comment:
Nice site, sellers won't like it, but buyers should.I bought over a 15 year period from 1985 to 2001 many times when the market was very quiet, now is not the time to buy property in Cape Town, the prices are just to well priced, buyers should rent and go fishing till the pain starts to set in seriously, which it will in time, just when , no one knows, but keep watching and talking to the agents, till you judge the bottom, then climb in and make grest profits, I never bought any property that did not return around 25% gross. Sold 10 buildings out of 11 last year, maybe a bit early, but then I have banked the profits and will wait again for the 'low fruit'
Post a Comment