Parklands, on the west coast of Cape Town, offers residents and property investors a great location, a wide choice of properties and real value for money. No wonder it’s one of the fastest growing areas in Cape Town.
In a recent article on the Private Property website, Parklands was rated the number 1 suburb in the Cape to which renters are flocking. This came about after analysing their most in-demand rental suburbs, based on counting the number of views each rental listing got on our website.
Security, good schools and amenities nearby and the overall lifestyle the suburb can offer residents are some of the characteristics that make these rental suburbs popular. The MyCiTi bus, which enables quick and direct access to the CBD has also made the area highly desirable, and attracted many new residents.
So named because of the designated areas within the suburb that are strictly to only be used as public open space, Parklands as a whole is well-maintained and neat-looking. And one of the main advantages of the Parklands area, in comparison to its central or southern suburb counterparts, is that it is within minutes of the white sandy beaches in Bloubergstrand, Eden on the Bay, Sunset and Dolphin beaches.
This kind of information is crucial for investors as it informs on the best areas for a buy-to-let investment property.
Parklands is a relatively affordable suburb, with an average rent for a flat being R8 000, and a three-bedroom house going for about R13 500 per month. But it has much more to offer than cheap rent. A beautiful beach lifestyle, wonderful views of Table Mountain, numerous excellent schools and world-class shopping and medical facilities are all available within this popular suburb.
Parklands is also able to offer property buyers a wide selection of property types, as it incorporates a variety, spanning sectional title apartments to stand-alone family homes. Apartments in Parklands (available through IGrow Wealth Investments) can be snapped up for as little as R729 900, offering an exceptional return on investment, as rental demand in the area is consistently high.
And because Parklands is a relatively new area it has benefitted from the lessons learned when establishing older suburbs in Cape Town. As a result, there is better spatial planning, the roads are wider and there is more provision for parking, a known problem in other areas of Cape Town. The buildings themselves also use modern materials and design, which appeal to renters and buyers alike.
What is more, the numbers show that, while properties in some areas in the Western Cape saw a drop in value during the recession, Parklands properties retained their value. Since then, prices have risen steadily (but not unrealistically, like some of the surrounding areas like Blouberg) indicative of buyers recognising the value that can be found in the area. And considering the quality and finishes of homes on offer, the prices are very reasonable.
Parklands has proved popular with residents and investors alike, and its popularity is steadily growing. Secure your investment in this booming suburb.