City Bowl at­tracts range of buy­ers

De­mand for homes will re­main high but the slow­ing na­tional econ­omy has had an ef­fect

Weekend Argus (Saturday Edition) - - PROPERTY -

LONG con­sid­ered to be the home of hip­sters and trendy young­sters, Cape Town’s City Bowl has un­der­gone an im­age trans­for­ma­tion in re­cent years and is now one of the most de­sir­able res­i­den­tial ar­eas in Cape Town, at­tract­ing a broad spec­trum of buy­ers and offering solid re­turns on in­vest­ment.

Ryan Gre­eff of Lew Gef­fen Sotheby’s In­ter­na­tional Realty, says that data on Props­tats clearly demon­strates the chang­ing face of the City Bowl property mar­ket.

“In 2005, the av­er­age sale price of a free­stand­ing home in Vre­de­hoek or Gar­dens was be­tween R1.6 mil­lion and R1.8m, with ar­eas like Tam­boer­skloof re­al­is­ing slightly higher me­dian prices of around R2.6m.

“In 2015 to date, the av­er­age free­stand­ing home in Vre­de­hoek costs

‘The change in

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