Cape Town Property prices - has the bubble burst??
PUBLISHED 26 JUL 2018
Has the decades-long Cape Town property boom come to an end? Things may have slowed down this year, but there's still a lot of potential for future growth
For the past two decades, the Cape Town property market has been producing annual returns that have left other South African cities in the dust - but is the party about to end?
Reality sets in - and prices start to flatten out
Despite several years of political uncertainty and a slow economy, houses and apartments in Cape Town kept going up in value.
A strong interest in the Mother City from foreign property buyers, “semigrants” from other provinces, and young professionals (along with a shortage of properties) had kept prices buoyant and sellers happy.
Cape Town’s scenic beauty, great choice of realty, and world-famous vibe had allowed property buyers in the city to put politics and the economy out of their minds - but ignoring Day Zero was turning out to be impossible.
The threat of water shortages, along with high property prices and the reality that a new President won’t fix SA’s problems overnight have put a damper on the property market in 2018. With properties staying on the market for longer than usual and prices flattening out, should Capetonians be worried about the future?
Temporary problems shouldn’t cause a permanent slump
When challenges come at us from every side, it’s tempting to expect the worst - but there is good reason to be hopeful about the Cape Town property market’s future.
- Droughts don’t last forever, and Capetonians handled Day Zero like pros
- The city is investing in new water infrastructure to safeguard against future droughts
- Cape Town is still a hot destination for tourists and property buyers, and the things that make it great are still there - and ever increasing!
- Politics change, but Cape Town’s sense of community remains - and happy property buyers know that better than anyone
Despite a slow start to the year, prices are still rising slowly and steadily in the Mother City - especially when it comes to sectional title units like apartments and townhouses.
If you’ve been wanting to buy Cape realty but couldn’t find the right pad at the right price, this could be your chance to snap up a great deal. When prices start to rise again, you’ll be the proud owner of a great investment.
Are you ready to view our portfolio of homes in Cape Town’s hottest areas? Take a look at our portfolio of properties to get started.
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