Which areas currently offer the best investment potential?
Your new house should not only be your home about also your investment. There are a number of things one has to consider before purchasing a new home, not least of which is its location.
Your property is an enormous investment and youâ€™ll want to make sure that youâ€™ll be able to see a return on that investment. Therefore, buying in the right areas is key.
A report by moneyweb.co.za recently showed that in Cape Town areas like Pinelands, Table View and Parklands are experiencing a tremendous growth. Property Prices in Pinelands grow by as much as 64% in one year. This is a significant rate of growth and FNB Home Loans CEO, Ed Grondel believes that these areas will continue to experience high growth rate for the year to come.
Generally, though, he said the middle market of properties priced between about R400 000 and R750 000 is the area that represents the best opportunities for investors.
Property Price Increase from 4th Quarter of 2005 to 4th Quarter of 2006
Summer Greens (53%)
Table View (52%)
West Beach (40%)
Brakpan North (60,56%)
Crystal Park (54,09%)
Theresa Park (53,05%)
Pretoria North (52,49%)
Allens Nek (51,70%)
Mount Edgecombe (65,64%)
Caversham Glen (37,77%)
Sea View (31,15%)
La Lucia (22,86%)