South Africa’s economic status has rallied back into glory with recent positive market sentiments. The rand is continuing its strength and with the recent announcement by South Africa’s Reserve Bank to cut interest rates by 25 basis points, bringing the repo rate to 6.5% and the prime lending rate of banks to 10% South African’s can expect increased market positivity.
It is no wonder that according to Knight Frank 2018 Wealth Report’s Prime International Residential Index (PIRI 100), Cape Town grew by 19.9% in 2016-2017. Proving that the Cape Town residential property market is ranked as the second top-performing market in the world.
This comes as no surprise to us. We’ve continued to experience positive growth trends that often defied external economic factors. Cape Town is not only a prime investment location due to its tourist locations and world renowned holiday activities, but Cape Town property investors regularly experience fantastic investment returns.
The lifestyle and business opportunities in Cape Town make this city very attractive for both foreign and local investors. What also must be taken into account is that Cape Town has one of the most diverse property landscapes in the world.
Luxurious homes along the Atlantic Seaboard overlooking breathtaking ocean views, to luxurious properties cuddled along Table Mountain in Constantia, as well as affordable homes a stones throw from wine farms.
In addition, compared to other high profile cities around the world, Cape Town offers investors a lot of value for their investment dollars.
Cape Town is growing and property opportunities are broadening even further. We predict even more growth in this amazing city over the medium to long term.
Harcourts Maynard Burgoyne
Rental Operations Manager