Constantia - One of the best property years as we head into a positive 2022
Category Market Update
Welcome to 2022! Our best wishes for a prosperous and healthy year to you and your loved ones!
The pandemic aside, we enter 2022 on a positive note for the property market, albeit remaining mindful that we are still operating in uncertain times.
We are delighted to report that 2021 was one of the best property years for the Southern Suburbs/Constantiaberg market. It was a year which demonstrated the resilience of the market which recovered to pre-pandemic levels with many areas reporting some of the best sales in three years!
The great Constantia area in particular enjoyed an excellent year with reported sales for the year at the highest in over three years.
Cape Town has also seen a welcome return of not just local buyers looking to invest in quality real estate in these high-demand neighbourhoods, but also of semigration buyers from Johannesburg, KZN and other inland provinces looking to settle in the Cape. The great Constantia areas is particularly sought after as a prime location to live and work from.
Our Seeff team enjoyed an excellent year with noteworthy sales as we continue using our decades of experience, commitment and dedication and working with sellers and buyers to ensure successful transactions.
Seeff's outlook for the year remains positive despite the interest rate hiking cycle which has been in effect since late last year. The expectation is that the rate may climb by about 75bps this year. Even with that, it will still remain below the pre-pandemic level and will continue to serve as an inducement for buyers and investors.
It remains an excellent time to invest in our areas. That said, sellers will need to continue focusing on market-related asking prices to achieve sales success. The Constantia area remains among the most in-demand and always in need of well-maintained family homes to meet buyer demand. Aside from the convenient location, the access to excellent schools and amenities remain strong selling points for the area.
While we must remain mindful of the potential impact that the ongoing pandemic and weak economic growth outlook may have on the market as we progress this year, last year's performance again showed that Southern Suburbs property is an excellent investment.
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Author: Gina Meintjes
