EXCELLENT CAPE TOWN OPPORTUNITIES FOR FIRST TIME BUYERS AND INVESTORS LOOKING TO GET IN WHERE THE DEMAND IS STRONGEST

First time homebuyers should very definitely not give up their ambitions to become property owners – and investors should take a good look at those properties which are priced right for the entry-level buyer.

 This dual message was put out by Lanice Steward, MD of Anne Porter Knight Frank, in her regular update on property trends.

 “There is a perception among possible buyers that they will never qualify for credit under the new Credit Act rulings.  Again and again, however, we have found that if they target the right areas, rein in their ambitions and work through the documentary evidence that they have to give to the banks, they are pleasantly surprised to find that they do qualify for a bond.”

 Areas to look at right now, said Steward, are the City Bowl, Gardens and Green Point.

 “Urban living is not to everyone’s taste but it can bring about huge savings in travel time and costs – and the value in the lower priced areas I have mentioned is right now excellent.”

 Asked to give examples, Steward said that APKF is now offering buyers

 two City Bowl bachelor flats on the second and seventh floors of a building, at R350,000 each;

• a one bedroom apartment in Green Point at R1,3 million; and
• a lock-up-and-go bachelor unit in Gardens with wood parquet flooring and views of the historic Company’s Garden.  It has a communal pool, and a launderette, at R595,000.

 “I am not the first to say this but these prices are now at low levels that are unlikely ever to be seen again. Get in now, get a foot on the property owning ladder and buy even if you do not plan to live in them.  Right now property is by far the safest investment you can make.”

For further information contact Lanice Steward on 021 671 9120 or email lanice@anneporter.co.za.