SO­CIAL AND SUB­LIME

De­vel­op­ments and ren­o­va­tions have pushed house price growth in Green Point, where po­ten­tial buy­ers may de­cide on choices from apart­ments to free­hold homes on larger stands

Weekend Argus (Saturday Edition) - - HOME - By Bianca Cole­man

GREEN POINT is a vi­brant ur­ban area burst­ing with shops, res­tau­rants, delis and bars, yet touch­ing cheeks with open-air des­ti­na­tions such as its prom­e­nade run­ning along­side the At­lantic Ocean and the ubiq­ui­tous park – a lit­tle piece of par­adise.

Within walk­ing dis­tance of the CBD and V&A Wa­ter­front, prop­er­ties range from quaint Vic­to­ri­anstyled cot­tages to mod­ern apart­ments and, in the Up­per Green Point area, larger prop­er­ties boast­ing panoramic views.

It is a pop­u­lar res­i­den­tial area for young professionals and has seen sev­eral apart­ment de­vel­op­ments, say sec­tional ti­tle agents for Seeff At­lantic Se­aboard, Bryan Gins­burg and Hi­lary Bic­cari.

Built for the 2010 Soc­cer World Cup, the Cape Town Sta­dium is a lonely land­mark which hosts events such as Sevens Rugby, soc­cer clashes and mu­sic con­certs.

The Green Point Ur­ban Park is per­fect for a pic­nic on the lawns, cy­cling on the bi­cy­cle lanes and a visit to the Bio­di­ver­sity Gar­den with 25 000 in­dige­nous plants, trees, shrubs, bulbs and ground­cov­ers.

Al­most 80% of all prop­er­ties in the area are sec­tional ti­tle.

Lat­est Prop­stats data shows free­hold houses have sold for be­tween R8 mil­lion and R14m this year, and a sale above R20m was recorded last year.

“Al­though price growth has flat­tened out since early 2017, the area saw some of its best cap­i­tal value growth in the past five years, due mainly to de­vel­op­ment and new and ren­o­vated apart­ment blocks mak­ing an ap­pear­ance,” says Bic­cari.

De­vel­op­ments freshly com­pleted in­clude The Warwick, The Bea­con, Rom­ney One, Chelsea On Main, The Chelsea and The Rich­mond.

Res­i­den­tial prop­erty in Main Road in Green Point. PIC­TURES: TRACEY ADAMS/ AFRICAN NEWS AGENCY

Free­hold houses in the area have sold for be­tween R8m and R14m this year.

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