First-time buyers benefiting from attractive interest rates
Category Cape Town Property Market
The real estate market is currently experiencing strong demand in Cape Town's northern suburbs. Our specialist brokers at Quay 1 International Realty are accumulating a dynamic portfolio of affordable properties on a daily basis to which a myriad of potential buyers are attracted.
Our teams are finding that the majority of buyers in these locations are first-time buyers or investors benefiting from the current interest rates, which are attractive. They are mostly on the lookout for homes, preferably priced below R2-million. While their buying criteria may differ, they tend to cluster around three-bedroom, two-bathroom properties with an enclosed garage and direct access to the house, along with a garden for their children and pets. Moreover, the proximity to MyCiTi bus stops, schools, shopping centres and other facilities are highly attractive additional features.
Homes that sell within a few weeks, typically include those priced between R1.5 million and R2 million in the Parklands area and between R1 million and R1.55 million in the Bothasig area. These areas are defined by the affordability for buyers, who are often willing to compromise on certain requirements to secure a home that fits the budget.
Many buyers are also looking for a home where they can retire. These buyers are mostly seeking houses that have been renovated and/or even modernized so that they can move in promptly. Our team of experienced brokers advise that these properties will sell the quickest if they are priced right and offer both prime location and space. With many people now working from home due to Covid-19, outdoor living has become a premium factor.
The Quay 1 International Realty sales teams have been very active throughout the winter period, concluding over R70 Million worth of sales in the month of August alone. As we approach the "selling season" in September, we have a number of keen purchasers that are looking to purchase in the area. Should you wish to take advantage of this window of opportunity, or alternatively, if you're interested to know what your property is worth in the current market, click on the button below and one of our area specialist brokers will be in touch.
Author: Quay 1 International Realty
