Basil Moraitis, regional manager for Pam Golding Properties in the Western Cape, said: “Rather than being negatively impacted by Covid, the V&A Waterfront actually experienced an increase in residential property sales in 2020, with a continued strengthening in sales in 2021.”
At R11.6 million, the median sales price for the year to date is the highest recorded since 2018, when a median selling price of R13.8 million was recorded. “We anticipate that continued semigration to the Cape and a desire for secure accommodation will continue to support this market for both local and international buyers.”
“Of interest is that over the past 12 months , there have been a total of 38 sales in the Waterfront, with those located within security estates sold for a median price of R15.36 million, while the seven apartments outside security estates have registered a median price of R7.68 million,” said Moraitis.
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