4th Quarter Market Review: Atlantic Seaboard and Cape Town City Bowl 2023
2023 was a solid year in Real Estate with rental prices increasing substantially and back to all time highs we last saw before Covid and there continues to be strong demand for rental properties in the City Bowl and Atlantic Seaboard areas of Cape Town as well as a number of outlying suburbs.
A comparison of sales in the last Quarter of 2023 and last Quarter a year earlier in 2022 show an increase of sales with sectional title sales showing the biggest increase in the Atlantic Seaboard with sales doubling from 82 sales up to 165 sales.
Notably the sales of Full Title homes was steady however the price variance between asking price and what the property eventually sold for showed an increase in variance from -7,8% up to -11,2% a year later.
Sales in the City Bowl year on year remain flat for both sectional title and full title properties with no notable changes
If you are thinking of buying, selling or renting and would like to engage further on values and market indicators, please don't hesitate to reach out
