Cape town – a valuable place for luxury home investment
Cape Town is one of the most preferred destinations in the world and has managed to garner great popularity among a large number of people. When recession hit some of the major spots got affected and the real estate market came down in those areas. Cape Town is one area that was least affected by recession and performed much better than some other places even in such a scenario. It should be noted that despite the low interest rates in the year 2010 ad the slowing down of the world, cash buyers increased from 30 percent to that of 70 percent standing proof that cash is the best way to get it in case of luxury markets.
The luxury market is able to sustain itself despite many of the reasons that come in the midway and the number of sales in the Atlantic Seaboard has increased up to 10 percent for the years 2009 to 2010 on a year to year basis. This indicates that there is always demand in the luxury market. The Cape Town luxury promotion is just not restricted to the Atlantic Seaboard and has extended into the City Bowl’s Oranjezicht, Tamboerskloof and Higgovale suburbs which has been having a 40% boost in sales for properties over R6 million.
Properties in the Sea Point, Fresnaye, Green Point, Bantry Bay, Llundudno Clifton, Camps Bay and V& A Waterfront are some of the regions that are looked upon as some of the most desirable spots and have come to attract international buyers on the whole. The popuality of the place is the outcome of the areas nearness towards the ocean and also some of the prominent tourist spots. In the Cape Town properties that are in Bantry Bay and Clifton are known to have the highest prices per square meter which has limited supply but a considerably huge demand.
