Affordability in the Cape
Category Advice
During times of economic and political turbulence, South Africans need to be extra careful when deciding on the area in which to buy. The delicate balance of affordability, lifestyle and safety remains a large obstacle for many South Africans particularly for first time buyers and those looking to downgrade for retirement purposes. Fortunately, there are several suburbs to choose from within Cape Town, which offer affordable price tags and great capital returns.
Northern Suburbs
The Northern suburbs include areas such as: Brackenfell, Goodwood, Kuils River and Kraaifontein, which have received a large surge in first time buyers over the years. This has lead to a boost in sales volumes and prices, offering buyers a great return on investment at an affordable price. Buyers are able to find excellent value in these suburbs, with prices ranging from R400 000 for a two bedroom apartment to R650 000 for a two bedroom house and around R800 000 for a three bedroom house.
Western Seaboard
Cape Town’s Western seaboard has been a popular choice for many first time buyers and millennials looking to invest in property. These areas offer a variety of studio apartments, secure estate homes and freestanding houses. The area consists of suburbs such as: Parklands, Flamingo Vlei, Bloubergrant and Melkbosstrand which have seen a substantial influx of young professionals looking for affordable properties in safe, well developed areas. The beach has attracted kite and beach surfers all year round and there is an abundance of restaurants, cafes in the area. For between R600 000 and R800 000 buyers can obtain a two bedroom apartment and in the R1m - 2m range, buyers can obtain a sizable 2-3 bedroom family home.
False Bay
About 25 minutes away from Cape Town CBD, you will find the towns of Muizenberg, Kalk Bay, Fish Hoek and Simons Town. The area is currently enjoying a revival which has led to an increase in sales, particularly from retirees. The train station is currently undergoing a revamp and a network of pedestrian pathways into Muizenberg village are on their way. In addition, a number of private developments are underway, including retail, commercial and residential property developments. Buyers are able to find a 2 bedroom flat for under R700 000 and a freestanding family home of 2 - 3 bedrooms, for between R800 000 and 1.2m.
Helderberg
A 45km drive down the N2 from the City centre will take you to the suburbs of Somerset West, The Strand and Gordon’s Bay. Though a longer commute to Cape Town than other suburb choices, these areas offer affordability within the beautiful backdrop of the Helderberg Mountains. Here, you will find an abundance of gated estates, from golf estates to beach estates and wine estates. The properties prices range from R800 000 for a 2 bedroom apartment to 1.5m for a 2-3 bedroom family home.
The Western Cape offers a large choice of suburbs for buyers with a tight budget seeking affordable homes, close to amenities which offer good value for money and return on investment. For more information about properties within the Western Cape, please contact one of our agents and we will gladly assist.
Author: Dormehl Property Group
