Over the last year, residential property sales have gone from strength to strength in Cape Town and the surrounding areas, a trend that is expected to continue as we head into 2018.
This is according to Adrian Goslett, Regional Director and CEO of Remax of Southern Africa.
“The Mother City has remained highly sought after throughout 2017, which is evidenced by the significant increase in property sales we have seen in the last twelve months,” says Goslett.
“There has been a continued influx of people moving to the Western Cape from many of the inland regions throughout the country. The demand has resulted in property price growth in the Western Cape outstripping other regions of the country - good news for homeowners, but bad news for first-time buyers trying to get their foot in the door.”
Fuelled by real demand, Goslett predicts that Cape Town will continue to see positive house price growth in 2018. “While the very steep upward curve we are currently seeing may flatten marginally, Cape Town will remain a lucrative investment destination from both a capital growth and rental income perspective as the current growth is not a bubble.”
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