How Cape Town's property boom will impact rental prices

29 October 2018 8:29 AM

Massive construction cranes have become part of Cape Town city's skyline over the last few years.

There are new apartment and hotels buildings springing up within the city centre. But what does this mean for the development of the city?

With the influx of these buildings, will Capetonians start seeing apartment prices becoming more affordable or is this another way for these companies to make more money out of cash-strapped Cape Town residents?

Rob Kane of the CCID explains what the Cape's building boom could mean for property developers and residents.

Read: Cape Town tenants could see property prices ease up, says RE/MAX

If you look at what's happening in Cape Town City centre, there's underlying confidence and those tower cranes that you are seeing are the confidence of the developers that the city centre will remain in good shape going forward.
— Rob Kane, CCID chairman

I do think that the residential market has run hard and it is now cooling down and I don't necessarily think it's a bad thing.
— Rob Kane, CCID chairman

There's still a huge demand in the city for people to live there so I don't think you are going to see any empty apartments.
— Rob Kane, CCID chairman

If you have a look countrywide, Cape Town CBD has to be one of the cleanest, safest places to live.
— Rob Kane, CCID chairman

To hear the rest of the discussion with Rob Kane, listen below:

Written by: Lengwadishang Ramphele

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