The Southern Suburbs of Cape Town are experiencing a surge in popularity due to semigration, resulting in a significant impact on property prices. The suburbs of Newlands, Rondebosch, and Claremont are in high demand for their peaceful ambiance and proximity to vital facilities. However, there is a limited supply of houses available at current average selling prices, making the market highly competitive. This shift in urban living dynamics is reflective of a growing yearning for a balanced lifestyle, open spaces, and peace.
The Southern Suburbs of Cape Town are witnessing a significant surge in their property markets due to semigration. Suburbs such as Newlands, Rondebosch, and Claremont are observing an unparalleled surge in popularity, resulting in an increased demand in both purchasing and rental markets. However, there’s a limited supply of houses available at the current average selling prices, making the market highly competitive.
The Rise of Semigration and its Impact on Real Estate
The property market has, for the most part, been lingering in a quiet period, but amidst this stillness, certain real estate sectors have seen an impressive surge. Notably, the southern suburbs of Cape Town have been the focal point of this change. The area has been attracting a significant number of South Africans, looking for a slower-paced lifestyle. This influx, as a result, has brought about a substantial impact on property prices.
This shift, branded as semigration, started taking shape in 2021 and has continuously attracted South Africans towards the southern suburbs of Cape Town ever since. The appeal of a tranquil, laid-back, and serene lifestyle these suburbs offer has been a powerful magnet. The fallout of the COVID-19 pandemic on the property market, which had sent it spiralling, was turned into an advantage by potential homeowners and individuals planning to move.
Property Boom in Newlands, Rondebosch, and Claremont
Suburbs such as Newlands, Rondebosch, and Claremont are witnessing a significant leap in their property markets. Their allure is not only in their peaceful ambiance but also in their closeness to schools and other vital facilities. It has been reported that these areas are observing an unparalleled surge in popularity, resulting in an increased demand in both purchasing and rental markets.
However, a warning of a looming problem has been issued by Claude McKirby from Sotheby’s Realty. According to him, there’s a limited supply of houses available at the current average selling prices, and an even more severe deficiency at the entry-level. The rental market is no different and is equally competitive across the entire Southern Suburbs region. Properties are being claimed as soon as they’re listed, with a deluge of inquiries coming in from potential tenants from Gauteng, KZN, and even overseas.
The Most Sought-After Suburbs and Property Showcase
McKirby further divulges that the suburbs receiving the most attention include Noordhoek, Kommetjie, Simonstown, Muizenberg, and Fishhoek. To get a taste of the kind of properties available, let’s delve into some of the properties currently on the market.
In Newlands, a 4-bedroom townhouse, nestled in the heart of Newlands, is on offer for R6 995 000. Being one of only ten houses in the complex, this corner unit boasts of a compact, open-plan kitchen which leads into the lounge and dining area, a design that makes optimal use of space. The lounge leads onto a covered patio, promoting a smooth transition between indoor and outdoor living.
Next up, in Rondebosch, a 5-bedroom home is up for grabs for R18.5 million. Having been in the same family for over forty years, this property’s location is its primary selling point. It’s within a walking distance of Bishops, Rondebosch Boys’, Oakhurst Girls’, and Micklefield schools. Nestled amidst lush lawns and featuring a Black River frontage, its mountain backdrop ensures utter privacy. The five reception areas, including a formal lounge, dining room, family room, and a spacious covered terrace, offer a variety of entertainment options.
Finally, in Muizenberg, a two-bedroom townhouse is on sale for R1.59 million. Tucked at the base of Boyes Drive in the Silverseas complex, the property comes with a free-flowing kitchen and a living area leading to an enclosed braai/patio area.
The Changing Urban Living Dynamics
The increased demand for properties in the southern suburbs of Cape Town portrays a broader narrative about the evolving nature of urban living. The pandemic has altered our viewpoints on work and lifestyle. As we reassess our priorities, there’s a growing yearning for peace, open spaces, and a balanced lifestyle – perks that these suburbs abundantly provide. Consequently, they have emerged as a prime hotspot in the property market.
What is semigration and how is it impacting the property market in the Southern Suburbs of Cape Town?
Semigration refers to the trend of South Africans moving from one province to another within the country. The Southern Suburbs of Cape Town are witnessing a surge in popularity due to semigration, resulting in a significant impact on property prices.
Which suburbs are experiencing a property boom in the Southern Suburbs of Cape Town?
Suburbs such as Newlands, Rondebosch, and Claremont are witnessing a significant leap in their property markets. These areas are observing an unparalleled surge in popularity, resulting in an increased demand in both purchasing and rental markets.
Is there a limited supply of houses available in the Southern Suburbs of Cape Town?
Yes, according to Claude McKirby from Sotheby’s Realty, there is a limited supply of houses available at the current average selling prices, and an even more severe deficiency at the entry-level. The rental market is equally competitive across the entire Southern Suburbs region.
What are the most sought-after suburbs in the Southern Suburbs of Cape Town?
The suburbs receiving the most attention include Noordhoek, Kommetjie, Simonstown, Muizenberg, and Fishhoek.
What are some examples of properties currently on the market in the Southern Suburbs of Cape Town?
In Newlands, a 4-bedroom townhouse is on offer for R6 995 000. In Rondebosch, a 5-bedroom home is up for grabs for R18.5 million. Finally, in Muizenberg, a two-bedroom townhouse is on sale for R1.59 million.
What does the increased demand for properties in the Southern Suburbs of Cape Town portray about the evolving nature of urban living?
The increased demand for properties in the southern suburbs of Cape Town portrays a broader narrative about the evolving nature of urban living. As we reassess our priorities, there’s a growing yearning for peace, open spaces, and a balanced lifestyle – perks that these suburbs abundantly provide.
