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A bit about Cape Town
Cape town is the second largest city in South Africa, and is home to the world famous table mountain, which defines the geography and the way in which properties have been built over the years.
With limited amount of space in the City Bowl and on the Atlantic Seaboard side, Cape Town has some of the highest prices per square meter in the country. Flats in good suburbs can fetch in excess of R25,000 psm - and a fairly small 500sqm piece of land in Fresnaye can set you back R10 million.
Being one of the top tourist destinations, the short term lettings market is very strong with many investors choosing to target this sector for their rental income. One of the peculiarities of the Cape Town residential letting markets is that yields are typically around 5%-6%, so if you are looking for a rental investment, consider that over the long term the capital values needs to rise consistently in order for your investment to match the returns of property in a higher yielding city like Johannesburg.
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