Salt River is experiencing huge amounts of interest due to the lifestyle, location and relative affordability it offers homebuyers.
If you are not yet aware of the enormous interest that the Woodstock-Observatory-Salt River area is currently enjoying, then you are in for a real treat, says Steven Holvec, Developments Manager for Seeff Southern Suburbs.
This area is now seen as the next big thing given the rising prices and growing unaffordability of the Cape Town CBD. It is basically adjacent to the CBD, but also offers excellent access to the Southern Suburbs and other areas of the city. It is highly sought after for the convenient location, but also has its own unique attractions and enjoys the same street-café culture and urban energy of the CBD, he says.
To meet the enormous demand for housing in the area, there are a number of new developments that seem to be selling like hotcakes, he adds. The latest, is SALT, a fabulous new mixed-use development which offers 184 one and two-bedroomed apartments of 55.4sqm and 78.4sqm respectively.
The development is very affordably priced from just R1.295m.
Careful thought has been given to maximise the modern, upwardly mobile lifestyle, says Holvec. Italian designed kitchens and vinyl wood flooring are some of the stylish features. Each apartment has a balcony and secure parking.
There will be state of the art security features throughout the building. The ground floor will comprise of a retail component for utmost convenience with coffee shops and the like.
The Woodstock-Observatory-Salt River area is part of what FNB terms the ‘Near Eastern Suburbs sub-region’ of the city and it highlights it as a major mover and shaker in the property market right now, says Holvec. FNB points to price growth in the area as continuing to rise, from 16.8% in early 2017 to 17.5% by end 2017.
It is the fastest growing house price market in the city for the past year, attributed to the high demand for property to escape the rising traffic and congestion in and around the city. The area benefits from an excellent central location with quick access to most major motorways in addition to enjoying lovely views of Table Mountain.
The area and developments such as SALT is clearly an excellent investment and, adds Holvec, as an added benefit, buyers and investors should note that the SALT development falls within the URBAN DEVELOPMENT ZONE which means that investors can take advantage of the UDZ Tax incentives.
View more of the neighbourhood here:
