During the past five

years have

demand for these apartments and sometimes place offers even before seeing them as they know from experience that in the time it takes them to fly to Cape Town for a viewing, the apartment is likely to be sold.”

Milne says there is also a huge demand for sectional title units in modern complexes that offer 24hour security as well as safe offstreet parking.

“These two criteria top the list for many of my clients and buyers will often increase the amount they are willing to pay if the apartment includes a garage or a parking bay.”

Tina Malyon of Lew Geffen Sotheby’s in Mowbray and Rosebank says that although these suburbs still offer good value compared to their pricier neighbours, it is very rare to find a house in Rosebank for less than R3.5m and in Mowbray house prices now start at R2.6m.

“It is common for well-priced homes to sell within a week and I have a growing waiting list of buyers who lost out on these quick sales. Instead of show days on Sundays I now have mini show days during the week between 2pm and 5pm which attract the serious buyers and who very often put in offers immediately.”

Dave Burger of Lew Geffen Sotheby’s in Kenilworth and Harfield Village says that since the beginning of the year, stock has become much harder to source and they now have a waiting list of buyers.

“The problem is also exacerbated by sellers who are holding out for

This renovated two-bedroom Rondebosch flat is for sale at R2.35 million.