Cape Town, oh Cape Town – probably one of the most vibrant cities in the western part of South Africa. This big city is very well known not only in South Africa but also over the world for popular attractions like Table Mountain and Clifton beach. As a South African I’ve had the privilege to experience most the city has to offer from hiking Lions Head, or Table Mountain, to visiting the Waterfront, to going to weird and wonderful clubs and tanning on its sandy (and very cold beaches).
The amount of foreigners living or enjoying their holidays in Cape Town is normally a lot so chances are if you’re not a South African you’ll know someone staying there or at least who have been there. That’s all great but how is the property market in Cape Town is it worth investing in or even staying in? The short answer is that if you own a house in Cape Town you could probably rent is for way more than a house in Brackenfell I mentioned in my earlier post. However if you’d like to stay there yourself it might aquire a certain understanding on the city, a city the almost never sleeps and has a wide variety of characters. From hipsters, rockers, students, beggars and much more your time there will be very interesting to say the least.
House prices in this city are not for the faint of heart. Prepare to by a lot over typical suburban house value and pay rent for even more. However in terms of investing this city never seems to slow down. It’s tourist attractions, a business hub and the capital of the Western Cape so you’ll never be short of buyers.