As people become more conscious about how they live and the impact of their carbon footprints, looking to greener ways of living is very much on trend. Appropriately named, the Cape Town suburb of Green Point ticks all the boxes when it comes to eco-friendly living.
“There is high buyer demand in Green Point because it caters to a green lifestyle. Residents don’t even need a car as they can walk or cycle to town, Sea Point or the Waterfront, along first class walkways and bicycle routes,” says Nick Logan, Sales Agent at Jawitz Properties Atlantic Seaboard, specializing specifically in Green Point’s sectional title market.
Additionally Green Point boasts an array of healthy living spaces and options to choose from, just a stone’s throw away in any direction. The Green Point Market caters to organic vegetable consumers, and the Green Point Urban Park, for example, is a popular spot for nature lovers. The park has an impressive water-savvy irrigation system in place and provides access to education on the various resident flora. Picturesque views of the surrounding city offer a striking contrast to the greenery of the park, and make for a change when using the gym facilities right there in nature. If you’d rather exercise indoors, there are other well-known gym facilities close by, or the option to partake in weekend morning park walks and runs. Perhaps try your hand at the various sporting facilities close by as well from rugby to golf to bicycle races.
“Public transport is also excellent with the bus routes reducing the reasons for residents to need to use their own vehicles,” says Logan.
Perfectly suited to accommodate short-term rentals and Airbnb customers, Green Point is an ideal location for buying investment properties. “It’s great for visitors because of how central it is here, and many tourists come without cars as they know they don’t need them.”
Along with demand comes high prices and the market is still very much in favour of sellers. “Because of its many advantages, Green Point is not an easy place to leave. As a result high prices are being achieved when stock does come on the market,” Logan adds.
The last three years paint an interesting picture as to how rapidly average sectional title prices have increased. From January to June in 2014, 52 sales saw an average price of a little over R2, 2 million, while in the same period of 2015, 53 sales produced an average price of a little over R2, 4 million. For the same period in 2016, the 37 sales concluded have seen an average price of R3million, which really indicates how desirable the area is.
“It is clear that buyer demand is not subsiding and for those lucky enough to get a foot in the door, the investment pays for itself both in terms of a rewarding, green lifestyle and a healthy pocket,” Logan concludes.