Cape Town Property Bubble

New Clifton 1st Beach Development

2012-05-13T13:06:00.000+01:00

What The Hell?

2012-05-03T15:09:00.000+01:00

From the latest Lightstone quarterly property report:

Is the Western Cape property price inflation about to go through the floor? And why has it diverged so far from the national average?

Sunday Open Thread: Pawpaw Hits The Fan At Auction Alliance

2012-02-19T21:40:00.000+02:00

Auction kickback scandal

Auction company Auction Alliance has allegedly been colluding with banks, liquidators and attorneys in a money making racket, according to reports on Saturday.

The Saturday Star reported that a 13-year old paper trail revealed that the company had paid kickbacks to attorneys, liquidators, and bank staff to ensure business went their way.

Sunday Open Thread

2012-01-29T21:41:00.000+02:00

It's the Open Thread!

Sunday Open Thread

2012-01-22T23:02:00.002+02:00

It's the Sunday Night Open Thread.

Sunday Night Open Thread

2012-01-15T21:55:00.002+02:00

It's the Sunday Night Open Thread(tm)

Is it just me...

2012-01-09T10:00:00.000+02:00

...or is the entire suburb of Sunset Beach for sale?

Sunday Open Thread

2012-01-08T20:47:00.002+02:00

It's the Sunday Open Thread!

Sunday Open Thread

2012-01-01T20:58:00.002+02:00

It's the first open thread of 2012!

Christmas Sunday Open Thread

2011-12-25T10:30:00.000+02:00

I'm somewhere in the Garden Route dodging for sale signs on golf estates, but it's still time for the open thread - Christmas edition!

Sunday Open Thread

2011-12-18T22:31:00.002+02:00

It's the Sunday Open Thread!!

The Orangerie: Will The Bloodbath Stop?

2011-12-15T11:58:00.000+02:00

It was barely a month ago when we discovered 2 bed apartments at The Orangerie, which had initially been on the market for +R3million were now being sold off for R2.5million.

Now Pam Golding has two more 2 bed units with an asking price of R2 395 000. And there is no transfer duty as it's direct from the developer, which means that if you bought in the Orangerie and you're trying to sell you are competing with the developer, who can probably cut prices again if required, and the buyer has to pay transfer.

Good luck!

Sunday Open Thread

2011-12-12T00:34:00.001+02:00

It's the Sunday Open Thread. This weeks topic, with the selling season in high gear are things worse, better or the same for agents and sellers?

Sunday Open Thread

2011-11-27T22:07:00.001+02:00

It's time for the Sunday Open Thread!

The Orangerie: The Bloodbath Continues

2011-11-24T13:19:00.001+02:00

Back in January we wrote how apartments in The Orangerie, which had been initially sold for well over R3 million were being sold by the developer for R2 850 000. It seems since then time has not helped those prices recover.

This ad is a new listing for a 2 bed apartment in The Orangerie.

The asking price? Now down to R2 500 000.

Rare Sale In Execution In Sea Point Spotted

2011-11-22T09:28:00.001+02:00

Sea Point Reader-in-Chief PJ writes:

Spotted a rare notice of a Sale In Execution on an apartment in Sea Point in a block called Oakholm. Usually the process never gets that far because a buyer usually steps in beforehand. Not this time...

Sunday Open Thread

2011-11-20T10:14:00.001+02:00

It's time for the belated Sunday Open Thread!

Well This Is A First

2011-11-17T12:29:00.002+02:00

Just received a spam SMS from Burgundy Estates.

Guess no one is walking into the sales office anymore...

ABSA: House Prices Growth Lagging Behind Inflation

2011-11-08T10:32:00.000+02:00

Houses hurting as inflation outpaces property prices

House prices are not growing in line with inflation, according to Absa's latest property price indices released on Monday.

"The average real price [at constant 2008 prices] of houses in the middle-segment of the market was in September this year about 13% below its peak of mid-2007," Absa Home Loans property analyst Jacques du Toit said in a statement.

"This was the result of average nominal house price growth being below the average headline consumer price inflation rate during this period."

In nominal growth, the effects of inflation are not taken into account, while real prices factor in the effect of inflation.

Your Architecture Is Sad: Sea Point

2011-11-03T12:50:00.000+02:00

There's bad architecture... and then there's sad architecture. This 3 bed house in Sea Point sent in by reader PJ is a prime example of that. PJ writes:

Sea Point is home to a fantastic mixture of architecture. But look at this POS. It's two concrete boxes stacked on top of each other. They'll call it "modern", I call it cheap.

Lew Geffen Atlantic Seaboard Dust Up

2011-10-26T20:30:00.003+02:00

Trust me being out the country when some truly juicy stuff starts going down. It seems Lew Geffen is getting into some dirty dealings with his Atlantic Seaboard franchisees. Reader KS sent me a link to a blog covering all the news: Lew Geffen Sothebys Scandals.

Epic 4 Week Open Thread

2011-10-11T21:16:00.001+02:00

Been shipped off to the UK for 2 weeks followed by another 2 weeks holiday touring around Europa. See you in a bit.

Sunday Open Thread

2011-10-02T11:51:00.001+02:00

It's the Saturday..err... Sunday Open Thread!

Mandela Rhodes Place Liquidated

2011-09-25T20:06:00.001+02:00

When we first wrote about Mandela Rhodes Pace back in February 2007, it was literally underwater.

Then in July 2011 we heard that even though it had been completed years earlier it was still releasing unsold apartments onto the market.

And now, it's being liquidated with supposedly 62(!) unsold apartments hitting the market. If you bought into MRP and are trying to sell... my condolences.

Saturday Open Thread

2011-09-24T18:18:00.001+02:00

It's the Saturday Open Thread!