It's Saturday, it's the open thread and if you'll excuse me I'm off to Newlands...
9 comments:
Anonymous
said...
When are rentals in the CT CBD going to stop increasing? Inflation is not higher than 6% (apparently) but rentals in CT have increased at least 50% in a year. Look on gumtree and tell me I am lying!
Well ... I used to rent in Tamboerskloof a few years back in a complex in which all units where owned by a single person, and they never increased more than 10% annually. Also I know many people renting in the CBD and none have said anything like that to me. So, I cannot say you are lying, but I find it extremely difficult to believe.
Anon #1, I rent in Tamboerskloof and have friends in Vredehoek, and those figures sound insane to me. Increases between 3 and 6 percent are the norm for people I know. Either you're reading the figures incorrectly or these are desperate speculators who hope to make up some of their losses by gouging during the World Cup period.
There is of course a third option: you are an estate agent or developer trolling sites like this trying to mislead suckers into thinking that Cape Town rentals are booming. I will give you the benefit of the doubt and assume you are just misinformed, but if you are a troll, I pity you because you're about to experience a world of hurt as we hit the second dip of the Great Recession.
My CT CBD business rental was fixed at 1% a year for 2 years by a big time landlord. He knows from experience that you don't squeeze businesses in times of recession.
Anon, the banks are certainly doing a De Beers in the US, holding back a huge glut of foreclosed houses to keep prices artificially high. I don't have any specific info about whether SA banks are doing the same, but I see no reason why they wouldn't.
9 comments:
When are rentals in the CT CBD going to stop increasing? Inflation is not higher than 6% (apparently) but rentals in CT have increased at least 50% in a year. Look on gumtree and tell me I am lying!
Well ... I used to rent in Tamboerskloof a few years back in a complex in which all units where owned by a single person, and they never increased more than 10% annually. Also I know many people renting in the CBD and none have said anything like that to me. So, I cannot say you are lying, but I find it extremely difficult to believe.
Anon #1, I rent in Tamboerskloof and have friends in Vredehoek, and those figures sound insane to me. Increases between 3 and 6 percent are the norm for people I know. Either you're reading the figures incorrectly or these are desperate speculators who hope to make up some of their losses by gouging during the World Cup period.
There is of course a third option: you are an estate agent or developer trolling sites like this trying to mislead suckers into thinking that Cape Town rentals are booming. I will give you the benefit of the doubt and assume you are just misinformed, but if you are a troll, I pity you because you're about to experience a world of hurt as we hit the second dip of the Great Recession.
you're lying
My CT CBD business rental was fixed at 1% a year for 2 years by a big time landlord. He knows from experience that you don't squeeze businesses in times of recession.
Q: Are banks = De Beers re. Property? Control demand type of thing?
Sorry man, I meant to say control supply , glad I didnt put my name to that post!
Anon, the banks are certainly doing a De Beers in the US, holding back a huge glut of foreclosed houses to keep prices artificially high. I don't have any specific info about whether SA banks are doing the same, but I see no reason why they wouldn't.
http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page310?oid=60182&sn=Detail
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