The information in this article is courtesy of Business Day (Bargain time on the Atlantic Seaboard – 6 April 2009)
Never has there been a better time to buy property in this sought after area. According to Di Reid, principal of the Atlantic Seaboard Chas Everitt International franchise, the prices for expensive properties on the Atlantic Seaboard has come done – presenting those wishing to buy into the area with a perfect opportunity to scoop up a bargain.
Property in Camps Bay are selling for between R4,5 and R10 million and Bakoven homes around R8,5 million. You can now pick up Clifton apartments for between R6,5 and R10 million – between 6% and 21 % lower than six months ago.
Reid added that there has also been a trend among investors to buy some of the older properties in these areas to renovate or to demolish to make room for contemporary sectional title properties. These properties can be rented out for between R15 000 and R25 000 per month.
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