City Bowl attracts range of buyers
Demand for homes will remain high but the slowing national economy has had an effect
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