Prop­erty Ex­cel­lence

SLOW Magazine - - Edition 43 - Text & Im­age © Pam Gold­ing Prop­er­ties

The city of Cape Town, with its in­ter­na­tion­ally renowned V&A Wa­ter­front in Ta­ble Bay sit­u­ated be­tween two of the world’s great­est icons – Ta­ble Moun­tain and Robben Is­land – holds its head high among the best of the best, not only as a prime tourist at­trac­tion, but also as a sought-after res­i­den­tial lo­ca­tion.

The heart of the Mother City is a thriv­ing hub puls­ing with life and ac­tiv­ity, char­ac­terised by an ex­pand­ing busi­ness sec­tor, as well as an in­creas­ing groundswell of new res­i­dents, in­vestors, visi­tors, and tourists from around the globe.

Con­stantly evolv­ing, Cape Town con­tin­ues to rack up in­ter­na­tional awards. The city was re­cently recog­nised as a ma­jor tech­nol­ogy hub when it was ranked 22nd glob­ally in the re­port. It also fea­tures on top three des­ti­na­tions to visit. Long re­garded as one of the most beau­ti­ful des­ti­na­tions in the world, Cape Town is open for busi­ness and ripe for in­vest­ment.

And it’s ex­pe­ri­enc­ing a sig­nif­i­cant boom in de­vel­op­ment, par­tic­u­larly in the City Bowl as well as the South­ern Sub­urbs and At­lantic Se­aboard. In the for­mer, where a rapidly grow­ing res­i­den­tial pop­u­la­tion is push­ing up the de­mand for ac­com­mo­da­tion, the de­vel­op­ment 16 on Bree, com­pris­ing 350 units, sold out in just two weeks.

“The price of units in this area has spiked con­sid­er­ably, given the de­mand for a live­work-play lifestyle with the con­ve­nience of city liv­ing, from about R4,000 per square me­tre in 2004 to the cur­rent av­er­age sell­ing price of R55,000 a square me­tre,” says Lau­rie Wener, Pam Gold­ing Prop­er­ties se­nior ex­ec­u­tive for de­vel­op­ments in Cape Town.

“On the At­lantic Se­aboard, prop­erty prices con­tinue to rise,” says Basil Mo­raitis, Pam Gold­ing Prop­er­ties At­lantic Se­aboard area man­ager. In Camps Bay the av­er­age prop­erty price has es­ca­lated from R3.75 mil­lion in 2010 to R14.1 mil­lion in 2017, while apart­ments in Clifton hit the R140 mil­lion-mark in the past year. The de­mand for prop­erty along the At­lantic Se­aboard shows no sign of eb­bing, with the largely favourable ex­change rate mak­ing it pos­si­ble for over­seas in­vestors to buy prop­erty with a lifestyle com­pa­ra­ble with Europe and other pop­u­lar in­ter­na­tional des­ti­na­tions.

For more in­for­ma­tion, please visit www.pam­gold­

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