Prices on the rise in Rondebosch
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.”