In Feb 2009 this 2 bed/90m2 apartment was asking R1 150 000. Just under 2 years later a 2/3 bed/110m2 apartment in the same block has an asking price of R1 195 000. That 1.5%/year capital appreciation is about what you'd earn with your money in a transmission account (and no levies!).
13 December 2010
Sea Point: 2 Years = R40 000 Appreciation
In Feb 2009 this 2 bed/90m2 apartment was asking R1 150 000. Just under 2 years later a 2/3 bed/110m2 apartment in the same block has an asking price of R1 195 000. That 1.5%/year capital appreciation is about what you'd earn with your money in a transmission account (and no levies!).
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I'd rather live in Parklands than Sea Point, and that's saying a lot. Less Nigerians, an actual beach nearby, more space, and half the price per m2. Sea point is where young professionals go to get into negative equity, become alcoholics long into their 30s, and spend a good few years desperately trying to hold onto their youth, jogging every day on their precious promenade while their ever thinning bald spot bum fluff whistles in the wind. All this before they decide to rent out for about 20% of their bond after moving to London. Repeat and Rinse. I'm just saying ....
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