Cape Town’s Tyger Valley resembles "little China”

In just two years, the Chas Everitt International office in Cape Town's northern suburbs has won over scores of property buyers and sellers to achieve a market share of more than 50 percent in many areas, according to a group June 11 media release.

The office has also bettered its turnover target of R1-million worth of sales a month per agent by 30 percent, says Chris Cloete, co-owner of the franchise, who ascribes the success of the office to the service package Chas Everitt International offers its clients.

"Many satisfied clients refer family and friends who want to buy or sell property. They report great satisfaction with our excellent systems and professional service."

Cloete says the office has also established a solid agent base and that other top agents in the area are increasingly applying to join the office. "We are growing from strength to strength and our mission is to grow market share in all suburbs to more than 50 percent.

"I must add, however, that we are aided by a very favourable market. Prices in the northern suburbs are easily half that of property in the southern suburbs - which means that rand for rand, buyers will get double the property here. We are also lucky that our market is not seasonal and shows solid growth."

The average price of a freehold home in the northern suburbs is R1,2-million, and on top of favourable prices, says Cloete, the area draws buyers because of its central position. "We are midway between the city centre - with easy access to the N1 freeway - and the winelands."

Strong demand has spurred new development and Cloete says the area, in particular Tyger Valley, resembles "little China" due to the dozens of construction cranes on the skyline.

"Fifteen huge apartment complexes have just been completed or are being constructed at the Tyger Waterfront, with more in the pipeline, and commercial development is following suit. The Willow Bridge shopping centre, for example, is the crown jewel among many smaller commercial centres that have been built to satisfy the shopping needs of the growing number of residents."
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