select
|

Young professionals drive demand at Tygervalley Waterfront

The Tygervalley Waterfront, located just off the N1 highway in Cape Town’s Northern Suburbs, is seeing strong demand for affordable and secure apartments. 

Pam Golding Properties (PGP) reports that the area is extremely popular with young and middle-aged professional buyers, as well as parents buying for student children, and investors wishing to capitalise on the strong demand for rentals.


Another popular building at the Tygervalley Waterfront is “The Falls”, which enjoys 24 hour security and lovely views over the greenbelt.  Pam Golding Properties has the exclusive mandate to market a two-bedroomed corner apartment measuring 80sqm.  The sunny, modern unit has open plan living areas, two dedicated parking bays and Juliette balconies.

The Tygervalley Waterfront was established in the late 1990’s, when it was developed as a mixed use residential and commercial hub at the site of an old disused quarry.  Today it is a pleasant waterfront environment with adjacent greenbelts, consisting of 25 sectional title schemes as well as retail and office space.  Now fully developed, the Waterfront offers just over 1000 residential units, with popular buildings including The Falls, The Cliffs, Tyger Quays and Cornerstone.

PGP agents Koos van der Merwe and Vivienne Francois say apartments in these buildings are highly sought-after for both purchase and rental, with a mix of approximately 30 percent owner-occupiers and 70 percent tenants. Affordability is one of the key appealing features, with entry level pricing from around R650 000, mid-level apartments costing around R1 million, and a few top-end units selling up to around R3 million.

“Most buildings have their own access control and CCTV camera systems,” say the agents, “while some have additional manned security.  Residents can enjoy a convenient, secure lifestyle with shopping, restaurants and coffee shops literally on their doorstep and right on the water’s edge, while a Virgin Active gym, hospitals and the TygerValley and Willowbridge shopping centres are just a short stroll away. A number of large corporates have offices nearby, including Metropolitan Life, Santam and FNB, so for young professionals working in these companies, it is a hugely appealing lifestyle. Another benefit for young buyers is the wealth of outdoor activities available in the area, from a canoe club based at the waterfront, to a nearby mountain-bike club with trails into the Winelands, and a network of paved walking and jogging trails leading to the nearby Doordekraal Dam and Majik Forest, both popular areas for hiking and bird-watching.”


Pam Golding Properties has the exclusive mandate to market a stylish two-bedroomed apartment in Falcon Crest at the Tygervalley Waterfront. The 78sqm unit is the ideal lock-up-and-go home, with modern open plan living areas and foldaway doors leading to a spacious private patio.  The apartment is on the market at R870 000.

Unit turnover is quite high, with Lightstone statistics indicating that 74 properties changed hands in the 12 month period from August 2012 to July 2013, at an average price of just over R700 000. More than half of the buyers were aged 18 to 35. Van der Merwe notes that the average price shows a marked increase over the previous two years, when the figure was closer to R650 000. “This is indicative not only of some signs of overall market recovery,” he says, “but more significantly of the extremely strong demand being seen at the Tygervalley Waterfront at present. A well-maintained unit will never stand empty – in fact, some rental agencies have waiting lists of young professionals who are desperate to live here. This high rental demand in turn ensures keen interest from investor buyers wanting to capitalise on rental returns as well as capital growth.”

Landlords can expect to earn on average R4800 to R5100 in monthly rental for a two-bedroomed apartment, going up to R6500 per month and more for penthouses, duplexes and three-bedroomed units.

PGP currently has a range of apartments on offer at the Tygervalley Waterfront, ranging from entry level units at around R680 000 to top-end apartments priced close to R3 million.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 25 Apr 2018
      Whether you are a seasoned seller or new to the game, putting your home on the market is an exciting moment. To ensure you get the best possible outcome these 8 value adding additions to your home is worth the effort.
    • 25 Apr 2018
      After four years of unprecedented growth fuelled by semigration, the Southern suburbs market faced a number of challenges in 2017, including dwindling affordability and a marked slowing in house price growth with many sellers forced to lower their prices in order to secure a sale.
    • 25 Apr 2018
      Mall of Africa, is celebrating its second year of sensational success. This splendid super-regional shopping centre first opened on 28 April 2016, and has grown in popularity, performance and profile since then.
    • 25 Apr 2018
      While the role of trustee in a sectional title scheme is a voluntary and unpaid position, it is one that comes with huge responsibility. Trustees have a fiduciary duty towards their scheme, says Chinelle Hewit, Operations Manager at sectional title finance company Propell.
    • 24 Apr 2018
      The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK