03 October 2008
Rent Vs Buy: Bellville - Calling All Idiots
Here's a house in Bellville which is "CALLING ON INVESTORS ONLY!!". It's on the market for R1 600 000 and has a current gross rental income of R6 000/month. I'm not going to even bother doing analysis here, just take a gander at this awful payment and yield graph.
Subscribe to:
Post Comments (Atom)
3 comments:
It sounds like you know what you are talking aboyt when it comes to property in Cape Town!
If you dont't mind, I'd really appreciate your views on this one...
My friend is in cape town right now and he is thinking of putting an offer on a 2 bedroom duplex flat (no garden or balcony), at the top of Ocean Drive near Firdale Road (in Fresnaye?). the flat is goingf for around 2.2m Rand and the rental return is 1,800 a month. Do you think this is a good deal? It has views over the sea and is at the top of the hill, and has garage and all done up inside.
i.e. do you think an investment in this market now for this proce is a good one?
Your expert opinion would be most valued!! :)
Cheers!
Pete from London
the price of properties is still going to drop. The rand is going to suffer so your friend should wait for a better rate exchange and prices to fall further unless he offers 30% off the asking price
rent it for 1800 rent a month
buy it for 29000 interest+rates a month
Damn, that's a hard one :-)
Post a Comment