The R100m apartment at the V&A Waterfront in Cape Town has been bought by an unnamed buyer for R110 million. There are three of these luxury penthouses up for grabs at the one billion rand new development at the Waterfront which is due to be completed in October 2009. This R110m makes this penthouse the most expensive apartment in Africa. The developers, lead by tycoon, Sol Kerzner, believe that the other two penthouses will be sold very soon and both fetching amounts in the R110m region. Read the rest of this entry »

The stadium being constructed in Cape Town for the FIFA World Cup in 2010 is now seeking a naming sponsor. The City of Cape Town has now put out a tender to the public for the 68 000 seater stadium in Greenpoint for the stadiums naming rights and a new long-term contract for operating the stadium. Construction of the stadium took a while to get going with many hurdles causing the delay of the stadium but now construction is in full swing and the stadium will be ready to host 8 games including a semi-final in the worlds biggest soccer event taking place in 2010. Read the rest of this entry »

What would you do with R100-million today? Why not buy an apartment. It is reported that there are three penthouse apartments up for sale at a new development at the Waterfront in Cape Town each going for about R100-million. The apartments are part of a new R1-billion Tower Marina development scheduled to be completed next year. Each apartment comes with four bedrooms, a terrace with a swimming pool, a gazebo lounge, a wine cellar, a study and a music room. From the apartment you will have stunning views of Table Mountain and Robben Island. Read the rest of this entry »

A report on Fin24 today headlined ‘Cheaper to rent in Cape Town’. Latest figures show that it is much cheaper to rent property in Cape Town than in Johannesburg. I had been thinking this all this time but reading the article today just confirmed my thoughts and I was not wrong. Having spent a few years living in Johannesburg, I always had the perception that living in Cape Town would be expensive. But I decided to move to Cape Town one year ago and have realised that rentals in Cape Town are lower than Johannesburg. Read the rest of this entry »

We all know how expensive properties can get, especially along the Atlantic Seaboard in Cape Town in areas such as Camps Bay and Llandudno. But today it was reported that an open stand in Clifton has been sold for R11.25m. Read the rest of this entry »

I had an interesting run-in with an estate agent. A couple of months ago, a property was up for sale in Cape Town. She did her job as a true estate agent does, tells you the great property investment the apartment she was selling was and that “you will not find anything better than this on the market”.

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