Seeff comments on the rising popularity of apartments in Woodstock
Are you a young individual hoping to buy and rent a property, setting yourself up for passive income? Prepare to jump on the bandwagon of astute investors sinceWoodstock, a City Bowl suburb, is rising in popularity.
This bustling neighbourhood is a local hit and garnering international headlines. A recent piece in the Independent called it "Cape Town's coolest neighbourhood." Can you envision becoming a part of such a fantastic investment opportunity?
Chad Belcher, Property Practitioner from Seeff Southern Suburbs who recognises a good property investment opportunity when he sees one, recommends that young buyers consider Woodstock when seeking the ideal residential apartment investment opportunity.
Why Are Woodstock Apartments So Popular?
Woodstock apartments satisfy young buyers' needs for an international lifestyle with minimum upkeep and management by offering lower price points and a selection of trendy new apartment buildings
- Convenience is a major drawcard, as Woodstock is less than 10 minutes from the University of Cape Town (UCT), the Waterfront, and the Atlantic Coast.
- Along with attractions like the Old Biscuit Mill and the Neighbourgoods Market, Woodstock provides easy access to many creative industries, art galleries, restaurants, breweries, and co-working spaces, making it South Africa's trendiest urban hub.
- Woodstock's price points are significantly lower than the neighbouring Downtown. With greater investment yields (depending on the property and price paid), its modern apartments appeal to a mix of own-use and rental investment buyers.
A Guide to Property Types and Prices for Woodstock Apartments
If you are a young home buyer, you can find a studio or one or two-bedroom Woodstock apartment in "The Hub," a trendy Woodstock complex with modern facilities, secure parking, and high-speed fibre connectivity, priced between R915,000 and R1.15 million
Pets and bicycles are welcome, and the building even boasts a rooftop gym with panoramic views of the Mother City. These apartments require no upfront investment or deposit, and qualified buyers can obtain 100% approved home loans that cover all expenditures, including transfer duty and bond costs.
You can also benefit from an established rental revenue stream with pre-screened tenants and lease agreements, which provides a net yield of roughly 7%.
PropStats reports that the Woodstock area attracts young owners, with recent sectional title buyers under 35 accounting for 42% of the market. Furthermore, although reaching a peak in 2018/9, Woodstock property prices have stayed stable since the COVID-19 pandemic, and values are now likely to climb. This presents an excellent investment opportunity for young buyers. Make your move to secure a Woodstock apartment, and reap the rewards of excellent rental returns and capital value growth.
The demand for Cape Town property will likely rise in the coming years as people migrate and relocate their enterprises to the city for more dependable service delivery.
As a result, investing in Woodstock apartments currently makes good financial sense.
Reach out to our team of experienced Property Practitioners for guidance so that you can ensure you are making a wise property investment in Woodstock.
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