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Send  Share  RSS  Twitter  18 Jun 2012

PROPERTY: Shortage of Stock In City Bowl

 



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Particularly high demand for homes in Cape Town’s City Bowl has resulted in a shortage of stock available for purchase at present (June 2012).  So says Pam Golding Properties, whose City Bowl agents sold 25 homes in the area between 1 January and 22 May 2012.  Suburbs seeing the highest demand at present are Oranjezicht, Tamboerskloof and Upper Gardens.  The shortage extends to both the freehold housing market and the sectional title market.

 

PGP’s area manager for the City Bowl and Atlantic Seaboard, Basil Moraitis, says the City Bowl is one of the most stable residential markets in Cape Town, thanks to its prime central location, sought-after lifestyle and limited geography – the physical presence of the surrounding mountains and ocean making it impossible for the area to ever grow in size.  “The City Bowl offers a vibrant cosmopolitan lifestyle,” he says, “with coffee shops, boutiques, restaurants and gourmet delis scattered throughout the area.  It is also home to several highly-rated schools including St Cyprian’s, Herzlia, the Deutsche Schule and Jan van Riebeeck Primary and High.”

 

For those working in the central city,” he continues, “it offers a quick commute to work, while for students, it is well placed to access the Cape Peninsula University of Technology, the University of Cape Town and the numerous smaller colleges located in the area.  And of course, many homes enjoy panoramic views of the city, mountain and ocean.  It is no surprise, given all these factors, that the area is in perennial demand, particularly from parents who want to live in the catchment area for the schools.  The spacious family homes with ample garden space for children to enjoy are ideal for these buyers, while professionals and singles enjoy the convenience and security of the area’s apartments and townhouse complexes.”

 



 
 
 
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