Investors in Cape properties are spoilt for choice, with a wide range of juicy developments being launched over December.
The FM selected four and asked seasoned property investors to rate them. We then asked them whether they could recommend an even better investment.
The first phase of 163 apartments at Mandela Rhodes Place in central Cape Town is complete. It was developed by Ireland-listed company Howard Holdings and many buyers are Irish investors. You can buy a 63 m², one-bed unit for R1,87 million - about R30 000/m². It could be rented now at about R5 000/month, according to Pam Golding Properties' Laurie Wener.
Last week, Boschendal Estate on the border of Paarl and Stellenbosch launched 18 "founders" estates of 20 ha or more. All but six have been sold, at prices ranging between R14 million and R28 million.
Cape developers Rabie launched Manhattan, a new residential project at Century City, with one-bed units starting at around R1 million. They will be complete at the end of 2007 and would probably start letting at about R3 500/month.
Mvelaphanda Properties last week launched Eden on the Bay, a beachfront mix of apartments, sectional title offices and retail units starting at around R1 million and about R20 000/m². They will be ready for occupation at the end of 2008.
Financial Mail
Publisher: I-Net Bridge
Source: I-Net Bridge
