Why The Atlantic Seaboard Is Such A Popular Property Investment
January 3rd, 2012 | Author: admin
Why The Atlantic Seaboard Is Such A Popular Property Investment Choice
Cape Towns Gold Coast stretches from the bustle of Sea Point all the way along past the glorious beaches of Clifton Camps Bay and Llandudno to the pleasant and burgeoning village of Hout Bay. This is the Capes premier residential zone that is more often than not referred to as Millionaires Row.
One of the obvious advantages to living on the Capes Atlantic Seaboard is the balmy beach environment where each day ends in a fiery display over the Atlantic Ocean. But the area also boasts a number of leading restaurants coffee bars and exclusive boutiques that add a cosmopolitan allure to this already devastatingly attractive natural region.
Spatial limitations add to Atlantic Seaboard property values
Captured between the peaks of Table Mountain and the blisteringly cold Atlantic Ocean the Seaboard is spatially constrained with an invisible construction line on the mountainside indicating the end of all buildings and the beginning of the Table Mountain National Park.
This limitation in space has obvious implications to the property investor as the value of Atlantic Seaboard property will continue to increase regardless of the effects of the global economic implosion purely because demand will always outstrip supply.
Since 1994 when the great Nelson Mandela took over the helm of the fledgling democracy there was a spike in foreign nationals buying property along the coveted coastline which also contributed to the value of property.
Even though the world is recovering from one of the biggest and most damaging fiscal nightmares of the modern era prestige property all over the world is still very much in demand. If one considers how the South African Rand has been lambasted by the stronger currencies recently then Atlantic Seaboard property arguably offers some of the very best investment opportunities the world over.
Returning expats and interest rate cuts keep market buoyant
Another side effect of the economic hardships overseas is the increasing number of expats who are returning to find jobs at home. These and other local buyers are known to be snapping up prime property at competitive prices and with the recent interest rate cuts by the Reserve Bank property in Cape Town continues to emit the rosiest of glows.
It is also worth remembering that coastal properties in premier locations like the Atlantic Seaboard have over the years outperformed the general housing market and all indications are that it will continue to do so.
Atlantic Seaboard real estate realises record prices
Although the real estate market is generally a little more tricky in most areas of South Africa recent Clifton property sales have indicated that there is still plenty of gold on the Cape coast. For instance a Clifton Ridge bungalow sold for an unprecedented R31 million whilst an apartment overlooking the famed beaches went for R28million ndash; both of which were bought by South Africans.
Even though the man in the street may baulk at these prices it does bode well for property owners as it is a clear indication that the value of and the demand for Atlantic Seaboard property remains high even by international standards.
And if you think there are still bargains to be had you might have to dig really deep to find them a luxury 3bedroomed Bantry Bay apartment is up for grabs at R64 million and a 688msup2; family home in Clifton with 5 bathrooms 5 bedrooms and 8 garages is going for a song at R49 800 000.
About the writer: www.capewaterfrontestates.co.za
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