The allure of Green Point continues to captivate property buyers as demand surges for this sought-after suburb. Its prime location, with sea views and convenient access to many shops, restaurants and recreational spots, has made it a top choice for investors and home seekers alike.
Positioned within close proximity to the Sea Point Promenade, Green Point Urban Park, Cape Town Stadium and the iconic V&A Waterfront, Green Point offers an urban lifestyle that draws people from all walks of life.
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One of the key driving factors behind the rising demand is undoubtedly the suburb’s central location, which allows residents to enjoy city living without the stress of rush hour traffic. The ease of access to the CBD and nearby beaches of Clifton and Camps Bay, facilitated by both private vehicles and the efficient My-CiTi Bus service, makes Green Point an ideal choice for those seeking a balanced and convenient lifestyle.
Alexa Horne, the Managing Director of Dogon Group Properties, attests to the increasing interest in Green Point properties. The limited residential space in the area, typical of Cape Town’s CBD, has spurred robust demand, pushing prices higher. Nevertheless, Horne emphasised that Green Point still presents excellent value for money compared to other neighbourhoods, adding to its appeal for discerning buyers.
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‘We have seen robust demand for property in this suburb, which has limited residential space available – as does most of Cape Town’s CBD. This has given rise to high levels of interest in property within the area,’ she said.
Numerous value-for-money properties are currently available on the market, showcasing the variety of options in Green Point. For instance, a newly renovated 3-bedroom apartment in Hillside Heights offers a private balcony, communal garden and pool area, along with 24-hour security, for R3.35 million. Another example is a 1-bedroom apartment in The Odyssey building, featuring stunning views of Devil’s Peak, secure basement parking and a communal rooftop pool, listed at R2.195 million.
For those with a more substantial budget, a 2-bedroom apartment on Ocean View Drive in Upper Green Point boasts a private garden, pool, double garage and breathtaking views for R7.45 million. Alternatively, a fully furnished luxury 3-bedroom, 3-bathroom apartment in the Romney Park Aparthotel, with unending views over the Atlantic, is available for R8.775 million, offering a wealth of amenities including a large swimming pool, an on-site restaurant and bar and boardroom meeting facilities.
Alison Robb, a sales agent and Green Point area specialist at Dogon Properties, highlighted the suburb’s popularity among young professionals and university students.
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‘Well-priced properties and hidden gems are scattered throughout the area. There are apartments available that have excellent potential for value appreciation and are often priced lower than comparable properties in other nearby areas, making them a great investment opportunity. Globally, history has shown that rejuvenated city centres offer significant capital growth.’
Sales activity has seen a notable surge between February and May, with investor buyers from Gauteng and KwaZulu-Natal leading the charge. Additionally, first-time buyers benefit from attractive incentives when purchasing with a bond. The price range of R1.2 million to R2.5 million has seen brisk demand, and lucky buyers may find a 3-bedroom apartment for around R2.95 million. However, a shortage of available stock persists due to the allure of Cape Town and Green Point’s ability to offer an affordable lifestyle for those looking to invest.
Green Point’s appeal is not hard to grasp, as it seamlessly blends a sense of community, security and vibrant energy. Residents can indulge in leisurely strolls or bike rides along the promenade, explore the renowned V&A Waterfront, bask in the sun at nearby popular beaches and enjoy trendy coffee shops and restaurants, all within walking distance. For obvious reasons, Green Point remains one of Cape Town’s most desirable suburbs, attracting people seeking an exceptional living experience amidst a dynamic and thriving urban landscape.
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