The Southern peninsula of Cape Town is a beautiful area which has provided homeowners with a consistent return on investment and long-term value, says Richard Gray, chief executive of Harcourts South Africa.
With long stretches of beaches, a wide variety of property options and quaint towns offering a respite from city life in exquisite landscapes, he says the peninsula – made up of Hout Bay, Chapman’s Peak Drive, Noordhoek, Kommetjie, Scarborough, Cape Point, Simon’s Town, Fish Hoek, Kalk Bay, St James and Muizenburg – plays a major part in demand for this region.
Property market activity in the first quarter of 2020 has undoubtedly increased from last year.
“During 2018/19, consumer confidence was at an all-time low and buyer activity remained stagnant. Although the economy is still under pressure, buyer interest is on the rise. That is to a large extent due to the value in the market.”