The recent wave of foreign investors snapping up premium real estate through premier estate company, Jawitz Properties, and several other professional estate agents in Cape Town, has seen parts of the mother city recording record sales prices – and the CBD is no exception. From luxury apartments in mixed-use developments to large homes in areas like Tamboerskloof and stylish renovated properties for sale in Gardens, the city bowl is fast catching up with its neighbours on the Atlantic Seaboard as a destination of choice for discerning buyers.
Centrally located, secure, and always exciting, the Cape Town CBD stands apart in South Africa as an example of successful urban regeneration. This has given new life to the city bowl and continues to attract property investors – but what exactly is it about this part of Cape Town that appeals to property buyers?
The best possible location for business and leisure
The Cape Town city bowl is home to the largest companies in the Western Cape, with most of them having offices of in the downtown area. The city bowl also has a huge number of restaurants, from organic cafes to fine dining restaurants that are internationally ranked. Within a few minutes drive, the V&A Waterfront, Green Point and Sea Point offer even more in terms of entertainment – and all of this is easily accessible to city bowl residents.
Central Cape Town hosts many cultural events throughout the year, including the Cape Town Jazz Festival (held at the Cape Town International Convention Centre) and a number of smaller events which take place on a weekly or even daily basis. On the first Thursday of each month, the city organises a night time arts expo in co-operation with many of the galleries and museums located in the downtown area. These events bring city bowl residents together and make the area a vibrant cultural hub.
Safety, security and peace of mind
Unlike many CBDs which have become areas to avoid, the Cape Town city bowl’s popularity is also a result of the safety initiatives that have been undertaken in the heart of the mother city. The CCID (Central Cape Town Improvement District), which is a partnership between local businesses and the municipal government, provides security patrols and armed response to all areas of the CBD – an initiative that has drastically reduced crime over the past 15 years.
With safer streets and cleaner pavements, city bowl residents feel secure and ready to explore the shops, restaurants and special events that the CBD has to offer. The opportunity to live in a safe urban setting also appeals to many South Africans who are seeking a chic city lifestyle.
A great variety of properties for sale in the City Bowl
The city bowl area offers a safe, vibrant lifestyle – but perhaps the most important drawcard for property investors is the high quality and generous size of apartments in the Cape Town CBD and the amenities that many modern apartment towers have to offer.
In recent years the sheer number of luxury apartment buildings in the city bowl has multiplied several times over. Well-known buildings, including Mandela Rhodes Place, the Icon building and Mutual Heights still enjoy great popularity, alongside newer developments like Canal Quays. With the CBD undergoing a construction boom at present, the future is likely to bring several more impressive developments to the city bowl and a positive increase in properties for sale within the greater CBD.
Prices on the rise
In 2015, the city bowl saw its most expensive property to date being sold at over R10 million. This figure is important for property investors, because the city bowl is now seen as an extension of the Atlantic Seaboard, capable of fetching premium prices.
As foreign investors continue to show their confidence in Cape Town as an investment destination that delivers value, the city bowl may manage to shrug off a slow national economy and continue its rise to become an exclusive residential area – as things look now, it’s just a matter of time.
Local investors are also keen to snap up properties in the city bowl, as these homes and apartments are still priced competitively compared to similar properties in Sea Point, Bantry Bay and the Waterfront area. As a long-term investment, property in Cape Town’s CBD may prove to be very lucrative for locals and foreigners alike.
If you would like more information on properties for sale in the Cape Town city bowl, why not experience the high standard of service offered by Jawitz Properties, South Africa’s premier real estate company? Passion, professionalism and personalised service are the foundation of the Jawitz Promise – our commitment to assisting you at every step of the buying or selling process.
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