Areas and Places

Cape Town’s Cycle Tour sparks interest in local property market

The Odyssey Penthouse CT
An aerial view of Cape Town from The Odyssey Penthouse.

Cape Town is sure to attract a few more admirers when nearly 35 000 cyclists descend on the Mother City for the world’s largest timed cycle race this weekend. Now celebrating its 40th year, the Cape Town Cycle Tour is regarded as a highlight on any avid cyclists’ calendar and attracts entrants from around the word and country, many of whom are understandably reluctant to return home after falling for Cape Town’s many charms.

Commenting on this phenomenon, Berman Brothers Property (BBP) Sales Manager, Bianca Arnsmeyer said: “We notice a definite spike in property enquiries during the Cycle Tour and attribute this heightened interest from upcountry and international visitors to the great lifestyle the city presents. The Cycle Tour is a perfect showcase for Cape Town’s natural splendour and cosmopolitan lifestyle, especially for the Atlantic Seaboard which seems to be at the top of everyone’s wish list.”

According to Bianca; “This isn’t surprising though, as the Atlantic Seaboard is one of South Africa’s hottest property destinations and our own ‘Riviera’, easily outperforming other property markets around the country in terms of return on investment and an enviable lifestyle”.

This impressive return on investment is especially evident in Atlantic Seaboard apartment blocks which have been recently developed or renovated.  The Legacy – one of BBG’s developments in Green Point – provides a clear example of above-market returns where properties that were selling for R36 000/m in 2013 are now being quickly snapped up at R63 000/m.

“Given that vacant land is at such a premium many buyers in the top end of the market are quite willing to sacrifice the extra space associated with a free-standing house for the added security and convenience of a luxuriously appointed apartment,” says Arnsmeyer. “This is a very healthy property market and we expect to see increased demand for apartments and aerial estates, along the Atlantic Seaboard as supply strains to keep up with demand.”

Arnsmeyer also points out that many upcountry buyers are sometimes surprised when they realise how expensive Cape Town properties are on average when compared with the sale prices achieved up country. “It is therefore essential that a potential buyer enlists the services of a professional Real Estate agency that specialises in a particular area, as this knowledge and experience gives an accurate sense of fair value.”

“So rest your weary legs after the race and peruse our portfolio of exquisite Atlantic Seaboard properties online, and make the move to a lifestyle you deserve,” says Arnsmeyer.