In 2014 Cape Town’s CBD implemented its (CCID) Central City Improvement District security intervention plan which was from the onset a proactive initiative to combat the high levels of crime due to the downward spiral of property values and citizen safety.
Since 2014 the median property values have increased in value and the properties have captured the market it was once intended to serve, which was the well-heeled executives, seeking to rekindle the art-deco lifestyle which was more a cosmopolitan lifestyle synonymous with Cape Town.
The property usage is mainly apartments with a few freehold homes in the CBD to add to the diversity and choices.
The appeal for property in Cape Town’s rich culturally historic CBD, along with the views from higher located apartments, lofts and studio apartments is a once in a lifetime opportunity to reside in the splendour of opulence and the cosmopolitan lifestyle.
Due to the increasing demand for property in the CBD and more so apartments bodies corporate have had to keep up with demands and refresh and update existing buildings with services like improved access control and aesthetic appearances that had to be modernised. This contributed and justified the increase in property values and are not absorbent given this is Cape Town.
Developments’ like SIX, which was completed in 2009, is just one illustration that the demand for property in the CBD is on the rise and far from sated. These kinds of developments have also set a standard in trimmings like rooftop pools, spas and gym’s.
The other trend has been the redefined use of hotels into long-term leases like the Taj Cape Town, which international business people use as a base for work in Cape Town, or to explore the riches on offer in Cape Town like its rich art culture, fine dining and the many exclusive beaches.
Take a tour of the properties in Cape Town’s CBD via the Myroof web-site.