Camps Bay Still a Buyers Market

Situated on Cape Town’s Atlantic Seaboard, Camps Bay is one of the most popular and most expensive suburbs in the Cape. It is often referred to as South Africa’s Cote d’ Azure, and its property price tags are largely attributed to its location at the foot of the Twelve Apostles and its proximity to the centre of town.

Says Graham Alexander, Broker/Owner of RE/MAX Alliance: “The World Cup presented Cape Town with the ideal opportunity to promote the city to foreign investors as well as to local buyers. The number of transactions in the area is slowly increasing, but we are still in a buyers market. Therefore, now is the time for up-country or Cape Town buyers looking for an once-in-a-lifetime home to consider investing here.”

Alexander says that from January 2010 to July 2010 there have been 46 sales in Camps Bay. These properties range in price from R4,5-million to R13,5-million. He says that the average price of properties in Camps Bay has been approximately R6,5-million and the erven sizes range from 700m2 to 1500m2.

Says Adrian Goslett, CEO of RE/MAX of Southern Africa: “Those property buyers who invest shrewdly in good locations before prices escalate too dramatically are sure to reap the rewards in years to come, bearing in mind that property is a long-term investment.”

A prime example of the good opportunities available in Camps Bay at present is a double story house on the market through RE/MAX Alliance. This home is situated on a stand that measured just under 1400m2 on a leveled site. This property has six bedrooms, an entertainment area, established garden, swimming pool, double garage and above all, uninterrupted sea and mountain views. Its on the market for R7,8-million.

Alexander concludes by saying that aside from making an investment with significant growth, the lifestyle in Camps Bay is unsurpassed. “Camps Bay is epitome of the real estate mantra: location, location, location.”