A look at the Cape Town property market.
All,Not sure how much activity there is still on this blog, but I have been considering buying a house in CPT over the last couple of months. Very aware of all the arguments not to etc. and the economic proof of such. My question is: Has anyone bought property recently and how much off the asking price have you received? Might be useful to have a running list of 'shadow' sale statistics to get a true reflection of what properties are selling for vs. the asking price. Useful detail would be: Area, type of property, purchase date, asking price, actual purchase price, current monthly rental, other?
we are thinking of purchasing a 4 bedroomed house in the Southern sURBUBS. gIVEN THE PRICES WE ARE NOW ZEROING IN on Rondebosch East, Plumstead or Diep River. What are your thoughs as these three have similar price ranges. but when we focus into the future which area will most likely rise in value.
@ SFCTI think on average going prices are asking less 40% for auctions, and asking less 10%/5% for sales through the usual channels, and only for properties that were priced realistically from the start. All depending on the price bracket you are operating in. With regards to your shadow sales statistics: there are designated channels available to people in the industry, which do exactly that.Please be advised however that figures only give you part of the picture. There are always variables at play, which don't reflect at all. Buy-outs within families, furniture in- or excluded, parking bays/garages, views, balconies, renovated or not, etc.A property in essence is worth what it is worth to it's owner at any given time, no matter what the general circumstances are. every case is specific, and may change from the one day to the next. You as a prospective purchaser will inevitably have a different take on the perceived worth of a given property. Or perhaps not, in which case you will be able to come to an agreement.Good luck, and let me know if you require more specific info on certain areas.
I've just read an interesting article on Newlands -http://www.property24.com/articles/newlands-stadium-property-plans/15053 I'd suggest anyone living there sell very quickly!!! I'd rather live in Tableview than the future Newlands LOL
Post a Comment