Above: A model of the Cape Town Yacht Club Development said to be completed in 2018. Credit: Pam Golding online/Expresscapetown.
THE CITY ON THE RISE
Cape Town – Residential properties around the CBD and the V & A Waterfront are being snapped up as the demand for city living increase according to report by The Capetowner.
Take for instance the R1.2 billion Yacht Club development at the gateway of the V&A Waterfront was recently sold out with construction only set to be completed in the mid-2018.
Pam Golding Properties area specialist, Mariel Burger, said the sellout-success of the Yacht Club shows the growing demand for urban living options in the city center and neighboring precincts especially as the surrounding development nears completion.
Side elevation of the Cape Town Yacht Development club overlooking the Ocean. Credit Pam Golding/ExpressCapetown
“In the adjacent V&A , the prices of Waterfront apartment has escalated by 85% from 2013 to date.
“The Marina, which was one of the first Waterfront residential development, is selling from 70 000 per square meter on the front of the Yacht basin.”
The Yacht Club development sell-out comes after the news of plans for R3 billion worth of development for the city center.
The report according to the Central city Improvement District (CCID) which conducts an annual survey of people living in the city, since 2005, the number of people living in the city has increased by 900%- from 750 to 7000 people.
CCID chairman, Rob Kane, said that apart from the very fact that the city has become a cleaner, safer and vibrant place, businesses began to reinvest in the area around 2008.
“But we really attribute the turn-around in terms of residential to the 2010 FIFA soccer World Cup. This is when locals saw how much better it had become, and it became an option for the people beyond just being a place to work or study,” he said
THE INNER CITY IS A FANTASTIC PLACE TO LIVE
Aerial view of the famous Table Mountain from the Yacht Development Clubs Buildings. Photo: ExpressCapetown
Also analyzing, Remax sales agent Susan Watts has said that the facilities available to resident in the city are constantly being upgraded and there is an emphasis being placed on improving transport system in the city.
“The inner city is a fantastic place to live. “The ocean is ‘just over the hill’, there are endless selection of the world class restaurant, coffee shops and the V&A Waterfront is just around the corner should be in need of retail therapy. The city literally caters for everyone” she said
Read the original report on The Cape Towner