Green Point will score from Soccer Cup
31 March 2006
The upgrading of the Green Point soccer stadium for the 2010 World Cup will enhance property values all along Cape Town’s Atlantic Seaboard.
So says Adrian Reid, principal of the local Chas Everitt International franchise, in response to the news that the redevelopment of the stadium is set to go ahead.
“And Green Point itself is already benefiting from a spill-over from adjacent De Waterkant, where property prices have risen steeply. It is a hive of activity, with new sectional title blocks going up all over, and the stadium project will give the property market in the area even more impetus.”
Currently the cheapest property in Green Point, he says, will cost around R1,5-million. This will buy a two-bedroom apartment, while elsewhere along the Atlantic Seaboard, bachelor apartments start at about R400 000.
Reid also says the volumes of units being sold along the stretch of coast from De Waterkant to Camps Bay are still high, although the gap between asking prices and selling prices is widening. “But buyers are not shy to purchase upmarket property if they find value. In the past few weeks we have sold a home in Bantry Bay for R10,2-million and another in Fresnaye for R8,25-million.
“Overseas buyers are also still investing – we have sold three properties to British buyers recently – and we expect interest to pick up further now that the Green Point stadium has been earmarked for a World Cup semi-final match.”
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com