Visitors are paying premium rental prices to enjoy the pristine beaches and cosmopolitan lifestyle the Mother City has to offer, says Pam Golding Properties, with homes along the popular Atlantic Seaboard fetching daily rentals of around R30 000.

As the only South African city with a thriving CBD, Cape Town’s adjacent City Bowl uniquely offers the perfect synergy of urban accessibility and suburban lifestyle, which makes it especially appealing to millennials (under 35’s) who accounted for 42% and 25% of recent buyers in Vredehoek and Gardens respectively.

While the residential property market in general has been experiencing a reduction in activity over the past two years, there are definite signs of a positive shift in the marketplace.

With sectional title sales accounting for a growing percentage of South Africa’s total home sales, rising from 22% in 2010 to 28.4% of total sales in early-2016, there are no signs of this trend abating, particular as densification and the demand for convenient apartment living continues.

The short-term holiday rental season in Cape Town has once again started, and the demand for short-term property rentals, specifically in the Atlantic Seaboard and City Bowl area, is expected to rise considerably as many holidaymakers flock to the coast.

According to Propstats, figures for the period 1 Jan 2012 to 16 November 2012 reveal that sales revenue for free standing properties in the City Bowl totaled R542 422 million – a 2.4% increase on figures for the same period the previous year.