If you’re wondering where and how to buy investment property, Cape Town’s buy-to-let hotspots offer some excellent options.
City Bowl, Atlantic Seaboard and Parklands are much in demand not only for the wealth of local amenities available to residents but even more so for their convenient locations and the attractive payoff in saved travelling time and fuel costs.
Agents report that demand for rentals is outstripping supply, with a waiting list of would-be tenants wanting to rent each month. For investors demand is at a peak and a few savvy property investments are certain to yield good returns.
IGrow Wealth Investments can advise investors on how to build a property investment portfolio by selecting distressed properties and below market value properties, with already vetted lists of properties available to choose from.
While it’s always exciting to acquire investment properties, it also requires skill and knowledge to manage these properly. For those who are new at it or decide they would be better off spending their time on other more productive pursuits, an experienced rental services professional is the way to go. IGrow Wealth has dedicated rental agents who know exactly how to assist in the hassle-free letting of your investment properties.
In fact, IGrow has assisted in concluding various leases with international clients working on contract in SA and with businesspeople relocating to the Cape, who often prefer to rent initially before deciding where to buy.
With strong demand across various price ranges and areas in Cape Town there are now rental stock shortages being reported in many of the popular areas notably City Bowl, Atlantic Seaboard and the Southern Suburbs.
IGrow attributes the buoyancy to constrained economic and mortgage lending conditions and expects the latest petrol price hikes to drive even more tenants towards the city and surrounds. It is also not just the middle income earners who are renting now but upper income earners as well, which is great news for investors.
In Parklands and Table view there has always been high demand for rented sectional title and freestanding homes. The new Bus Rapid Transit (BRT) service has made commuting to the city much easier and affordability is a major draw card. A bachelor flat can be rented from R3 200 a month while a two bedroom duplex with garage goes for R4 500 to R5 500 and a freestanding three bedroom home with a pool and a double garage from R7 500 a month.
There is an abundance of amenities in these areas with shopping malls, restaurants and bistros, sports clubs, schools, churches, beaches as well as the vlei and hiking trails.
IGrow Wealth Investment can assist you in how to buy investment property in these areas – you’ll be guaranteed to have more than ten tenants to choose from and secure your passive rental income from day one!
“Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.” – Theodore Roosevelt
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