Principal's Pen - A Look at the Property Market in the Southern Suburbs of Cape Town

With over 100 buyers visiting show houses, property owners in the Southern Suburbs certainly have reason to be happy! 

Lew Norgarb had this to say about the market. “I have been selling for over a decade now and have never before seen such demand for property in our areas. I had a ridiculous 137 visitors to a Claremont show house (click here to view) a few weeks ago, which sold on the trot. 

Then I had 40 visitors during an evening open hour for a Kenilworth duplex (click here to view), which sold immediately for the full asking price to a cash buyer. My most recent release in Harfield Village (click here to view) yielded 100k more than the asking price and went to a buyer who was determined to secure the sale. This demand however is not isolated to these areas - the greater Southern Suburbs are experiencing the same demands. 

Lyn Staples (who lives in Claremont Village) and Andre Ter Morshuizen (our Plumstead and surrounds agent) are both on the hunt for more stock and both report loads of frustrated buyers champing at the bit for a new release.
Sellers are having a field day right now! Lew added that no one has a crystal ball and property, as we all know, is cyclical so there is no telling how long this will last.

Any property owners looking to sell or even just curious to know how much their asset is worth can contact Norgarb Properties on 021-6741120