It’s a case of you snooze, you lose
Entry level southern suburbs property an increasingly rare and pricey commodity
CAPE Town’s economy is flourishing under investor confidence that is attracting multibillion rand investments and pushing the province to consistently outperform national GDP growth, but the widening disparity between the local and national economies is not without its drawbacks, especially in the strident property sector.
Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty says: “Surging property values spurred by the growing demand from upcountry residents moving to Cape Town has driven up prices and has also precipitated a severe shortage of affordable entry level homes, especially in sought-after areas like the southern suburbs.
“Steep price increases during the past five years have significantly raised the entry level point in this popular district with entry level prices in suburbs like Rondebosch
Steep price increases