Looking at apartments in CT for investment

If you have been looking at property for sale in Estcourt as part of your plans to move into property investment, you may also want to consider checking out apartment options in Cape Town.

According to experts in the industry, there is a large demand for apartment spaces in the Mother City, largely due to the lifestyle benefits that they offer, and with limited space available in the small area between mountain and sea, apartment complexes are readily available.

For this to be an option for you, you may want to look into the average prices to see if it fits your budget, and with a median rental price of R13 500 according to Private Property in July this year, you should expect to see higher asking prices for properties on a whole.

Detailing the reason why this investment is a smart move, Christopher Hajec, a licensee of Fine & Country, added, “In a city that is limited in space as it is bordered by mountain or sea, apartments offer a way to provide the density needed to accommodate the demand of locals who want to be in the city and outside of Cape Town’s congested rush hour traffic.”

Research will certainly need to be done though, as you ideally want an option that is affordable for both you and the potential tenant, as this is most in demand. And considering the fact that luxury apartments in the likes of the Waterfront can fetch around R45 million, you are going to have to really look into the right suburbs to find a bargain.

When it comes to earning a return on your investment, Hajec explains that landlords should expect to see returns of up to 8% when leasing to long-term tenants, while short-term rentals can lead to returns of up to 12%.