Value for money and trendy lifestyle in Cape Town’s Central City

Cape Town’s Central City has become a sought-after residential address for young professionals, who are drawn to its vibrant lifestyle, modern apartments and convenient location.

Pam Golding Properties (PGP) reports a recent increase in enquiries from buyers aged under 40 – a trend borne out by Lightstone statistics, which indicate that around 30 percent of all recent buyers in this area fall into the age category from 18 to 35, while over 60 percent are under the age of 49.  PGP says the Central City lifestyle is extremely attractive to young people, while the good range of affordable properties makes this an accessible area for first-time buyers.

PGP’s area manager for the City Bowl and Atlantic Seaboard, Basil Moraitis, says the highest demand at present is for two-bedroomed apartments with secure parking, priced in the R1 million to R1.5 million price range.  “There is a very good selection of stock on the market at present,” he says, “across all price ranges.  And there is excellent value for money on offer - it is possible to buy a bachelor apartment for as little as R600 000, or a large modern apartment in a new building for under R2.5 million.”

Moraitis says many of the city’s older blocks have been renovated over the past seven years, with upgrades including the installation of new elevators and more modern finishes.  “Buildings such as Mutual Heights, Mandela Rhodes Place and Cartwright’s Corner offer superb communal facilities,” he adds, “such as gyms, sheltered swimming pools, and 24-hour security.  Residents can live in comfort and safety in a vibrant, trendy location, within easy walking distance of their favourite cafes, bars and restaurants.  Those employed in the Central City can even walk to work, while the MyCiti bus service provides reliable, affordable and convenient commuting to the V&A Waterfront, the City Bowl and the Western Seaboard.  With Cape Town being chosen as the Design Capital of the World for 2014, the spotlight is firmly on this area and its development as a trendy, modern residential node.  In short, it is a highly desirable place to live for those who want a secure, easy-to-manage lifestyle in a convenient central location.”

Anyone seeking proof of investor confidence in the area need look no further than St George’s Mall, where the redevelopment of Newspaper House is fast approaching completion.  The historic landmark has undergone a R150 million revamp, due for completion by the end of this year (2012).  Independent Newspapers will remain the major tenant on the upper floors, while developers Ingenuity Property Investments are installing retail tenants on the ground floor – among them a Food Lovers’ Market, a very welcome addition to the city for aspirant chefs and “foodies”.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us