Report shows that the total value of apartment sales in the CBD increased from R145m in 2012 to R249m last year CAPE Town’s inner city is emerging as one of South Africa’s strongest residential growth nodes, with the combined rand value of all central business district (CBD) property sales increasing by a whopping 72% last year, a report released on Thursday by the Cape Town Central City Improvement District (CCID) revealed.The total value of apartment sales in the CBD increased from R145m in 2012 to R249m last year, according to the CCID’s second annual state of the Cape Town central city report. That is way ahead of the average 20% recovery in sales volumes and values recorded across South Africa’s housing market for the year to January (First National Bank figures).The CCID report showed that the number of apartments that changed hands in Cape Town’s inner city increased from 132 in 2012 to 163 last year. Buyers forked out R1.428m on average last year, which translated into an av...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.