The latest developments in the Atlantic Seaboard and why this area attracts so many property buyers.
The appeal of Cape Town’s Atlantic Seaboard to both residents and visitors is easy to see: stunning scenery, beautiful beaches, a cosmopolitan vibe and the heart of the city close at hand for work and leisure. Property here has achieved some of the highest prices in South Africa, and it’s no surprise that new developments in the area sell fast.
The Western Cape’s quality of life is what attracts those riding the semigration wave here from upcountry, and the Atlantic Seaboard is a top choice for those who prefer an urban setting. “Being South Africa’s oldest city, Cape Town has very little land available for development,” says Rob Stefanutto, MD, Dogon Group Properties. “Generally developments within the city are on land where there is an old building that still has residual value, which adds to the expense for the developer. But, as a result, new developments here hold their value, as there are limited opportunities for further development and a huge demand for these properties.”
According to Stefanutto, those looking to buy in new developments in the Atlantic Seaboard fall into three categories: residential buyers wanting the convenience of a modern new building and looking for large live-in or entry-level first-time properties, an international group looking for trophy properties with modern amenities and the peace of mind of warranties offered by developers, and investors who buy off-plan with short-term letting plans. The newest developments also take Airbnb renting into consideration, which Stefanutto says gives excellent yields and is a popular solution for those who want to use their properties for part of the year when they are in Cape Town.
Developments in the Atlantic Seaboard and the Cape Town Metropolitan area tend to be positioned on excellent sites in areas that haven’t been developed for many years, allowing investors a trophy property with modern amenities.
Rob Stefanutto, MD, Dogon Group Properties
Best in food:
- Nobu at the One and Only
- La Mouette Restaurant
- The Roundhouse
Things to do:
- Relax on one of Clifton’s four beaches and at Camps Bay.
- Walk, run, skateboard or cycle along the Sea Point promenade.
- Picnic in Green Point Urban Park.
- Visit the V&A Waterfront for shopping, food and entertainment.
- Choose a different sundowner spot every evening.
- Metropolitan Golf Club
- Virgin Active Point Gym
- Green Point Tennis Club
- Clifton Tennis Club
- Sea Point Pavilion swimming pools
This article originally appeared in Neighbourhood, Sunday Times.
Take a sepctacular tour through the Atlantic Seaboard here: