Even on one of South Africa's richest streets, where homes fetch upwards of R60-million, the past year has seen less enthusiastic multi-million rand purchases.He attributes this to instability within the country.Geffen said,"the infighting within the ANC and the general uncertainty, and the power and that's adding fuel to the fire. Generally we've been in recession for two years.
On the other end of the city, property seekers are finding homes in less well-known areas like this, that that are more affordable. Vredelust in Kuils River is more than 30 kilometres from the city centre but a local agent says the area offers a wide variety of options for a young professional at astarting price of around R1.2 million.While Geffen is not holding out much hope of improvement in 2020, Grosch says she believes the middle-income band, will keep the market ticking over.
Mashstartup About time!
This is good news. Only in SA will you have an area reserved for rich foreigners. Camps Bay properties aren't even listed in Rands because SAfricans can't afford them, they're listed in dollars and pounds.
At least we will be able to afford them now...or not
Good
I’m thomas ,seeing is believing
Property is too expensive in CT 🤔🤔
Well, most of them were overpriced.
Good stuff, I've been saving money for a long time, finally I will be able to afford.... someone alert me when there's a house for R250.00
In real terms?
Were pound bound 😉
Very necessary.
A certain race is leaving Cape Town things don't look good
It's good so that we afford them too.
Foreign investments have not dried up due to instability alone, but also due to the looming expropriation without compensation madness! Investors are usually clever with their money and won’t invest where there is a very certain risk of losing their investments!
Wonderful I guess
Set my eyes on Camps Bay
i should think it would be obvious with the DA promising law and order and then the police and army called in CT is in shambles because not the ANC and DA can combat the lawlessness and of poverty the rich gets richer and the bergies go to jail for sleeping in the street
Well with the violent crimes on the roe, who in their right mind would willingly want to stay here?!
Thank you MYANC for continuing to fuck everything in this country up BlackExcellence
Well Ramaphosa doesn't seem to get it. He does not have to beg for investment. Investors are smart people always looking for the best environment. Create the right environment and you won't have to invite investors. Marketing only works if you have something good to sell.
pmcafrica What goes up must...
The only people now that can afford these houses are the corrupt politicians !
Can't go up forever. At some point it has to go down.
Foreign investment ? What none ?