Remember back in the good old days when a 2 bed/2 bath at The Orangerie was on sale for R2 975 000? I guess the R2 300 000 they're asking for it now can't be too much of an encouraging sign for current owners. The scary thing is waaaaay back in 2008 you couldn't find a flat with the same specs as the ones above (+- 120m2 2 bed/2 bath) for less than R3 100 000!
14 comments:
i hear levy there is quite expensive...
Would you expect anything less?
you drive past and all you see are empty apartments...
er... would the "fabulous patio for entertaining" mentioned in the advert be those tiny funny looking cage-type things we see in the photo, hanging out from the building like bunions ? I reckon there's room for a couple of plastic garden chairs and a few pot plants at best ...
Deflation. Can you feel it? It's here.
rabbit cages nothing more than that! you have to be a fool to buy a place there
Might be a reason for the madness. Their target market could be corporate residence for visitors of companies to the city. They need something small, manageable, upmarket, close to CBD, and lacking soul. Which could explain why A.) They are mainly empty, B.) The price or levy doesn't matter too much, and C.) No individual in their right mind would fork out 2 bar to live there permanently. I certainly wouldn't, however should the world start spinning at the pre-recession ferocious pace again; we might see these snapped up as they were most likely the first 'hard times' company fat to be cut.
SuckerJack
Check out this place - 6 on Pepper. 1.8 million and the bathroom is in the bedroom. A bethroom?
Sorry, here's the link
http://capetown.gumtree.co.za/c-ViewAdLargeImage?AdId=210354270&ImageIndex=2
And here's a drop from R 7,495,000 to R 6,750,000 within a week:
http://capetown.gumtree.co.za/c-Flat-House-Real-Estate-vacant-land-properties-for-sale-Family-Home-with-Guest-House-Potential-W0QQAdIdZ224235425
http://capetown.gumtree.co.za/c-Flat-House-Real-Estate-vacant-land-properties-for-sale-Family-Home-with-Guest-House-Potential-W0QQAdIdZ225692731
I see this ad has been yanked from gumtree... Innerstin'. SA is the only place in the world where falling property prices are TOP SECRET lol
souless shoebox cubicles.
"however should the world start spinning at the pre-recession ferocious pace again;"
LOL, ROFL, sucker jack. The current hyper-volatility in the sharemarket is a clear sign of great nervousness. Read Paul Krugman on the depression in which USA finds itself. The hangover from past excesses will last many years, the housing bubble is STILL popping. It can only be a matter of time here before the open secret of the auvtion market infects the so-called "ral market" of real estate agents. Perhaps they should be called fantasy-estate agents now.
The hypervolatility is not only nervousness but due to central bank intervention, specifically the fed, with free money (zero interest rates) and qe (fed exchanging junk mortgage debt for dollars) trying to find yield all over the globe.
Markets have ceased to impart a price finding function for the worlds economies, its all skewed. The rand strength is a direct result of this carry trade, and its effects on poor people is illustrated by the price riots in Mozambique as the rand has appreciated by over 40% to the metical.
Those 10 people dead are just the latest victims of the bankers and financial terrorists (as Max Keiser puts it), Blankfein really is doing Gods work it seems.
Post a Comment