Cape Town is well known for its spectacular views of mountains and sea, making it hard to find a property in this popular city that does not have a room with a view of either Table Mountain, sprawling Atlantic Ocean or rolling wine lands. International and local tourists flock here year on year to experience the fantastic weather, pristine beaches and the diverse cultures that Cape Town has to offer.
Cape Town recently added yet another prestigious accolade to its list of awards by being named the Best World City in the 2008 Telegraph Travel Awards. This confirmed its popularity among international holidaymakers and also highlighted the city’s investment potential.
Cape Town’s most exclusive suburb, Bantry Bay, recently made news with a staggering property sale of R36,5 million ($4,37 million). This suburb is located on the Atlantic Seaboard, known for being at the top end of the market and often attracting cash buyers with a keen eye for a good investment.
Another reason for investing in Cape Town property is the fact that the property market here shows extreme stability. This has been proven in the recent economic downturn; rental yields throughout South Africa were down, yet those in Cape Town seemed to be booming.
The favorable exchange rate in South Africa also makes Cape Town property an attractive investment. This and the fact that South Africa has such a strong economy mean that you are guaranteed to yield excellent long term returns on your investment.
The availability of property in Cape Town is also a factor for investors to consider. The city has seen a lot of development in the last 10 years. The shortage of available sites, especially in popular place like Camp’s Bay and Clifton seems to be drying up, resulting in a golden opportunity for investors.
The 2010 Soccer World Cup being held in South Africa is one of the biggest reasons to invest in Cape Town property for sale. The city will be hosting a number of matches at a brand new stadium. Along with a massive infrastructure boost, experts are expecting Cape Town to be a more desirable destination for leisure and business travelers, investors, and of course, its residents after the tournament. Another major benefit to the property industry in Cape Town will be demand for accommodation throughout the tournament.
Buying property in Cape Town is still one of the best investments you can make no matter what cycle the property industry is going. Actually out of all the different investment vehicles one can put your money into, property has always proved that it sustains itself, over time of course, as an investment.
To conclude, Cape Town is commonly regarded as one of the most beautiful cites in the world, a growing economy, all year moderate climate and host to the World Cup in 2010. This all means that Cape Town is touted to experience continued property growth. Buy to let investors can also rest assured that due to a strong tourism market in Cape Town, the rental market will not disappoint.
Author Resource:
Elizabeth works for South Africa's leading online property portal - SAHometraders which advertise property for sale and to let in all areas of South Africa. Visit http://www.sahometraders.co.za for more info.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")