Oct
2013
Western Cape, playground for the rich, has seen much attention from international and local investors alike.
Muizenberg's sea water temperature is more favourable to holidaymakers as opposed to Clifton with its ice cold sea water temperature.
Muizenberg is a popular residential and holiday destination with a high suburban demand. Sectional title, free standing or semi detached properties are the attraction at the moment due to the convenience and central location to all amenities and the beach-front. The sectional title units will be of importance to retired people and young couples alike. The properties are well priced for a suburb so close to the beach-front. Muizenberg town council has invested in CCTV security cameras installed in the new Lakeside retail development which does give a sense of security.
According to Rawson Properties’ Errol King, some of the buildings have had a make-over which adds to the aesthetic attraction of seaside living.
Rent derived from letting is in the region of R6000 to R7000 a month, and the levies for sectional title properties are affordable compared to suburbs like Kenilworth, Claremont and Rondebosch. Errol King says properties range between R700 000 to the more upmarket properties ranging in the R1,2 -R1,9 million upwards. King says many historic buildings are being refurbished which should increase the resale value. It is important to note that because Muizenberg is already highly developed – squatters should not be much of a problem as in other suburbs which are less populated and developed.
Muizenberg is situated between Cape Town CBD and Simon’s Town, thus ideally located for both holidaymakers and permanent residents. Close to the Cape Town airport, so international visitors need not struggle to get to and from the airport. All the major highways are close by to service the busy suburb.
The low interest rates and affordability of Muizenberg makes for good investment prospects for both international and local investors alike.
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