A luxurious, prime located, four-bedroom Clifton bungalow in perfect position on 4th Beach has been sold by Pam Golding Properties for R70 million to an upcountry buyer for use as a holiday home.

After the worst economic downturn in decades, further dampened by the recent tightening of lockdown restrictions in response to the second wave of the pandemic and the recommencement of load shedding, economic growth – while admittedly coming off a low base - is still widely expected to show some positive growth of around 3% this year.

As South Africa continues gradually emerging from the national lockdown, the luxury residential property market is showing promising signs of increasing activity, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Just nine months after launching to market, 63% of The Harri, a new 48-unit apartment block and mixed-use property development going up at 75 Harrington Street in Cape Town’s East City Precinct, has sold off-plan.

The surge in first-time buyers entering Cape Town’s property market – a notable 3.3 times more than this time last year – augurs well for a gradual house price recovery in the next few months, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Although a date is yet to be set for the implementation of the looming Rental Housing Amendment Act, many of the proposed changes, including criminal liability for non-compliant landlords, have sparked considerable concern.

Getting your foot on the property ladder isn’t easy for first-time buyers.

Blok is proud to announce the completion of NINEONS, our development at 9 Scholtz Road.

A R200 million 51-unit luxury apartment project on a vacant lot at 169 Main Road Green Point places the capstone on the radical transformation of the stretch between de Waterkant and Glengariff Road. 

The year began with renewed confidence across all sectors of the financial and property markets.