Demand for apartments in Cape Town exceed supply

Posted On Tuesday, 18 November 2014 12:36 Published by
Rate this item
(0 votes)

Demand for apartments in the mother city exceeding supply.

David Rebe

The total value of apartment sales in the Cape Town central business district (CBD) increased from R145 million in 2012 to R249 million last year as a result of the demand for property in the area - as well as surrounding suburbs - exceeding the supply.

This is according to David Rebe, CEO of Sandak-Lewin Property Trust, who says that these statistics released by the Central City Improvement District (CCID) highlight the growing demand for sectional title properties in the area going into 2014.

He says that the most influential driver of the increased demand for property in the CBD area can be attributed to the turnaround of the volatile property market over the recent years and that other contributing factors to the increase in sectional title dwellers in the CBD include increased traffic congestion leading to longer travel time into the CBD from the suburbs, petrol price hikes, convenience.

Most Popular

Africrest Roars Proud With Its Latest Office To Residential Conversation- ‘The Leo’

Apr 29, 2019
 THE LEO
This month, Africrest Properties opened their latest residential conversion project up…

John Rabie launches European development company with R1,4b project in Lisbon

Apr 29, 2019
 JOHN RABIE
John Rabie, one of South Africa’s most successful property developers, has recently…

Appeal court ruling against high interest rates charged by bodies corporate

Apr 23, 2019
MICHEAL BAUER
The recent ruling by the Supreme Court of Appeal where the body corporate of Gardens…

Request for Proposals for the Lease and Development of Properties

Apr 29, 2019
PRASA hereby invites proposals from potential tenants to lease and develop/upgrade…

If a bond approval is included as a suspensive condition in an offer to purchase, does this conclude the terms ans conditions thereof?

Apr 23, 2019
MICHEAL BAUER
In most cases when a person purchases a property, he will have to apply for a mortgage…

Please publish modules in offcanvas position.