Prices on the rise in Ron­de­bosch

Weekend Argus (Saturday Edition) - - PROPERTY -

CIT­ING Light­stone data, Lew Gef­fen, chair­man of Lew Gef­fen Sotheby’s In­ter­na­tional Realty, says the south­ern sub­urbs have ex­pe­ri­enced steady year-on-year growth from 2010.

“In Ron­de­bosch, for ex­am­ple, at the end of 2010 the av­er­age house price was R2.6m, but af­ter a solid 9 per­cent nom­i­nal growth a year over two years the price jumped to R3.3m by the end of 2013. A nom­i­nal year-on-year in­crease of 17 per­cent re­sulted in 2015 end­ing on an av­er­age sale price of R4.5m.

“Apart­ments in Ron­de­bosch fared equally well, with the av­er­age price in­creas­ing from R900 000 in 2010 to R1.3m in 2015 and by the sec­ond quar­ter of 2016 it reached R1.6m.”

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