Hey there! Let’s dive into what’s been happening in Cape Town’s property market in the last half of 2023. We’re focusing on Epping, Montague Gardens, Milnerton, Rivergate, and the office spaces in Century City. Plus, there’s a buzz around town about how Cape Town is becoming a hotspot for businesses fleeing load shedding woes in other parts of South Africa. Let’s unpack this!
Epping 1 and 2: No More Lights Out!
What’s Hot in Epping
Epping 1 and 2 are holding their ground as industrial property go-to’s. And guess what? Epping 1 is now a load shedding-free zone, thanks to Cape Town’s smart move to its own power solutions. This is a game-changer for industrial property tenants and investors! Sales are looking up, and the rental game is as strong as ever.
What’s Next for Epping?
With no more power cuts, Epping’s looking like the place to be for businesses. Expect some eyes on this area for future commercial property investment opportunities.
Montague Gardens and Milnerton: It’s a Tight Race
Keeping Up with the Joneses
Montague Gardens and Milnerton are kinda in a tug-of-war. While Montague Gardens keeps pulling commercial property businesses and is in demand with its prices and location. Milnerton’s stepping up its game with better facilities for property owners and tenants. Land availability in this area remains very scarce with demand high, don’t sleep on opportunities if you’re looking to let or buy commercial space here, they don’t hang around for long!
Rivergate: The New Kid on the Block
Rising Star Alert!
The Rivergate Commercial Property development node is turning heads with its modern vibe and strategic location. It’s getting the thumbs up from businesses, which means fewer “For Rent” signs and more “Sold” ones.
What the Future Holds
With its current groove, rapid development and land availability, Rivergate might just give the oldies a run for their money, as there are still commercial land portions available for sale.
Century City: Where Offices Love to Be
The Office Darling
Century City is where offices dream to settle down. It’s had a balanced 2023 with rentals, sales, and vacancies. The area’s thriving mix of work, live, and play is a big win.
What’s the Word on the Street?
Century City is expected to keep its charm for offices, and the rentals in this area have increased significantly with vacancy rates down, thanks to its cool mixed-use vibe and easy access to transport.
The Big Picture: Cape Town’s Becoming a Business Magnet
Now, here’s the scoop – companies across South Africa are eyeing Cape Town. Why? It’s all about the lifestyle, economic growth, ease of doing business, beautiful landscapes and dodging the load shedding bullet. Cape Town’s overall offering and clever power moves mean less downtime, and that’s music to any business’s ears.
Wrapping Up
So, that’s the tea on Cape Town’s property market as we say goodbye to 2023. From Epping’s power win to Century City’s office appeal, it’s all happening here. And with businesses across the country looking to move in, we’re expecting some exciting times ahead. Stay tuned!
Sincerely
Your area specialist
Estelle Van Der Walt Oriprops Property Broker – Cape Town
082 547 1348
Email: estelle@oriprops.co.za
