Semigration is boosting property in THESE areas

Although the property market has remained relatively stagnant over the last couple of months, there are a few areas where prices have shown a rather significant increase. According to BusinessTech, semigration to Cape Town’sTown’s southern suburbs has significantly affected property princes, boding well for sellers in the area.

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A CONTINUED RISE IN DEMAND FOR CPT’SCPT’S SOUTHERN SUBURB HOMES

Since the start of semigration in 2021, many South Africans have made their way to the southern suburbs of Cape Town in the hopes of a more relaxed and tranquil life. The subsequent effects of COVID-19 set the property market in freefall, and many potential homeowners and people looking to relocate used it to their advantage. 

Property in areas like Newlands, Rondebosch, and Claremont boomed, primarily thanks to their proximity to schools and other major amenities, the publication reports.

Today, these areas are more popular than ever, and demand continues to rise, both in the buying and renting markets.

“Stock has become an issue, though,” Claude McKirby from Sotheby’s Realty told BusinessTech, ” and there are few houses available at the current average selling prices and almost none at the entry-level.”

“The rental market is equally competitive throughout the whole Southern Suburbs region. Properties have barely been listed, and the enquiries literally pour in, with some properties even being taken without viewings. Generally, these are potential tenants from Gauteng or KZN or abroad.”

According to McKirby, Noordhoek, Kommetjie, Simonstown, Muizenberg, and Fishhoek are the suburbs currently attracting the most interest.

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TOP PROPERTIES ON THE MARKET

Here’s a look at some properties currently on the market in Mother City’s southern suburbs.

NEWLANDS

Tucked away in the heart of Newlands, this four-bedroom townhouse, on the market for R6 995 000, is the ultimate lockup-and-go property. The open-plan kitchen opens up to the lounge and dining area, allowing for optimal use of space. The lounge flows out onto a covered patio, offering effortlessly indoor-outdoor living. According to RE/MAX, the property is a corner unite and one of only ten homes in the complex.

RONDEBOSCH

This five-bedroom home in Rondebosch could be yours for a mere R18.5 million. As per Pam Golding, the house has been in the same family for the past four decades. It is situated within walking distance of Bishops, Rondebosch Boys”, Oakhurst Girls,” and Micklefield schools.

The home boasts rolling green lawns, a Black River frontage ( with its beautiful arched bridge), and a mountain pool. The majestic mountain backdrop makes it completely private, while the five reception areas, including a formal lounge, dining room, informal family room, and huge wrap-around covered terrace, allow for ample entertainment options.

The property has two vehicle entrances, one into a double garage and another with direct garden access. There are also domestic quarters and ample storage and workshop spaces.

MUIZENBERG

This two-bedroom townhouse is currently in the market for R1.59 million in Muizenberg. Situated at the foot of Boyes Drive in the Silverseas complex, the property boasts a free-flowing kitchen and living area opening up to an enclosed braai\patio area, Seeff states.

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