Buying Property in Cape Town

[angelamdec]

Hello

I am new to the forum and don't know if this is the place to get advice but here goes.

We are non residents thinking of buying a holiday property in Cape Town and would really love some advice on the best areas. We would be using it ourselves but also thinking of renting it out to help cover some costs.

We already have a property in Florida that we rent out www.evesfloridavilla.com.

If anybody has any comments or advice would be really grateful.

Went into buying our property in Orlando completely unprepared and would like to be a little more savvy this time!!

Regards

Angela

[Subzero]

Hi Angela

I have only been living in Cape Town for about 4 months and for me the best area is Camps bay. It is right on the beach and very close to the ciry center.

The only problem is that it's very expensive

Browse through here to get a better idea of the prices:
CT property

Hope this helps

Hi Angela

The best suburbs to buy for let are Camps Bay, Clifton, Bantry Bay and Constantia. The biggest property broker in these regions is http://www.pamgolding.co.za/

The best website for short rentals in Cape Town is http://www.capetown-direct.com/
with over 2000 properties to rent direct from owners.

They have a great article about property prices and the 2010 world cup. http://www.capetown-direct.com/artic...d-cup-property

The rand has come off 20% against all the $ and property in Cape Town is again offering great value.

Hi Angela,

I'm pleased to see that you are taking an interest in our country, South Africa. It would be a good idea to contact local estate agents and get a little more background information before making any kind of decision.

I see you also mentioned that you would like to rent it out to help cover the costs. Visit www.justletting.co.za - these guys deal only with letting so should be able to give you a good idea as to what would be a good investment on the letting side of things. You could also visit their site and get a good idea as to what others are charging in particular areas.