When it comes to looking at property for sale in the Vaal, or other parts of South Africa, you may be doing so for your primary residence or as an investment.
If the latter part of that statement applies to you, then you would want an option that offers good returns and growth over time. For this reason, you should certainly not overlook the option of apartments in Cape Town.
Property prices in the Mother City are certainly not cheap, and with Private Property showcasing a median rental price of R13 500 during the month of July 2018, the highest price in the country, it signifies that rentals can offer a solid return on your investment.
Discussing the reasons why apartments are such a popular option in the Western Cape, Christopher Hajec, a licensee of Fine & Country, said, “In a city that is limited in space as it is bordered by mountain or sea, apartments offer a way to provide the density needed to accommodate the demand of locals who want to be in the city and outside of Cape Town’s congested rush hour traffic.”
Prices for apartments close to the city can soar dramatically, with complexes in the popular Waterfront area offering options that can reach up to R45 million in price. However, if you are starting out with an investment, you may want to consider looking closely at affordability, especially if you are going to be renting out the property.
This is what the general consumer wants, without losing the benefit of having a secure space that is easy to lock up and leave. Professional couples, business executives and even families looking for holiday spots are more inclined to seek out apartment environments at present because of the flexibility and security.
As the owner, you can expect a rate of return as high as 8% when leasing to long-term tenants, while short-term rentals can lead to returns of up to 12%.
