The total value of apartment sales in the Cape Town central business district (CBD) increased from R145 million in 2012 to R249 million last year as a result of the demand for property in the area - as well as surrounding suburbs - exceeding the supply.

This is according to David Rebe, CEO of Sandak-Lewin Property Trust, who says that these statistics released by the Central City Improvement District (CCID) highlight the growing demand for sectional title properties in the area going into 2014.

He says that the most influential driver of the increased demand for property in the CBD area can be attributed to the turnaround of the volatile property market over the recent years and that other contributing factors to the increase in sectional title dwellers in the CBD include increased traffic congestion leading to longer travel time into the CBD from the suburbs, petrol price hikes, convenience.