The Free State has the lowest average rent for full title property and sectional property for Q2 2024, according to the TPN Residential Rental Monitor report which revealed the cost to rent in the nine provinces of South Africa. In the Free State the average for a sectional property or full title property is R6,417 and R6,557, respectively. The Western Cape is the province that has the highest average rent...
It’s no secret that Cape Town has become the preferred destination for upcountry and foreign buyers with sales and property values having surged since 2020, but the niche market that’s capturing the most buyer attention is the secure lifestyle estate sector, especially in the Constantiaberg area where record median prices are being seen. “In 2020 our office saw a 40% year-on-year increase in sales,...
The Cape West Coast stretches across 10 towns, from Yzerfontein in the south to Velddrif in the north, and inland as far as Darling and Hopefield. Dwarskersbos (part of Velddrif) in the north is just 128 km from Melkbosstrand in Cape Town. Yzerfontein is only 96 km or about an hour’s drive from the V & A Waterfront in Cape Town. This region's proximity to Cape Town, combined with the allure of a...
Whether browsing Cape Town property articles or arriving at Cape Town International Airport, visitors and readers alike are typically directed towards the Atlantic Seaboard and City Bowl districts, or even the Constantia area in the Southern Suburbs, as these are seen as the dominant property markets and lifestyle areas in the metropolitan and its surrounds – if not in South Africa. The Cape Winelands...
As the new Waterfall City commercial hub continues its rapid development, Midrand is being described as the “new Sandton”, complete with the huge shopping centre, tower blocks and modern residential developments that began turning Sandown into the “richest square mile in Africa” back in the 1970s. And with companies like PwC, SAGE, Accenture, Deloitte, Novartis, BMW, Dis-Chem, Cummins, Dimension...
Navigating the property market can be daunting whether you are a first-time buyer or investor looking for a sweet deal. It is important to understand what you can get in terms of property for various price points. Armed with a R1,500,000 budget for purchases in Cape Town, Johannesburg and Durban, IOL has sought out some gems which could be a buyer’s dream buy in the three cities. With the 25 basis point...
uMhlanga is the new wealth hub for the KZN region as buyers are investing in high end villas and apartments and buyers are now flocking here from all over, says Brett Botsis, director for Seeff uMhlanga. The result has been that the property market has not only held up well, but is still performing better compared to the pre-pandemic period. The area is fast becoming one of the most sought after coastal...
The Western Cape is the province that South Africans are moving to if they are switching provinces, according to data from Lightstone Property.Hayley Ivins-Downes, Managing Executive Real Estate at the property data firm, said: “The Western Cape is the preferred choice for those switching provinces, with the majority of its entrants (3,500) making the journey from Gauteng and 870 arriving from...
After hovering around R4.2 million for three years, the 2021 average Hout Bay house price of R4.32m, grew by more than 60% during the following three years, to R7.01m by the end of September this year. Propstats data further reveals that not only have prices skyrocketed, but time spent on the market has plummeted from an average of 156 days to just 64 days and the difference between asking and selling...
Within the local housing market, some markets are far outperforming others. While market conditions are slow in provinces such as Gauteng, the Western Cape is experiencing somewhat of a boom. According to the RE/MAX National Housing Report for Q2 2024, the Western Cape claimed all five spots for the top searched suburbs on remax.co.za. House prices in this province are also significantly higher than the...
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