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Inexpensive property for sale in CT Kraaifontein

01 Jul 2015

The outlying Cape Town Northern Suburb of Kraaifontein, which within its boundaries contains some 28 000 homes in eight or nine different precincts, including Uitzicht and Pinehurst, is taking on a new image and rapidly shaking off its ultra-affordable lower price bracket label.

This home in Kraaifontein offers two bedrooms, an open-plan kitchen and a braai area with built-in bar. It is selling for R899 000 - click here to view.

This is according to Antoine Tredoux, the manager of the Rawson Property Group’s Kraaifontein franchise, who says Kraaifontein is still inexpensive by Cape standards, but shortage of stock coupled with rapidly increasing demand for homes in this area are ensuring that prices rise year on year by 10% or more, in some cases by as much as 15%, and he is confident that this trend will continue for the foreseeable future.

Tredoux says it is still possible to find a home in certain parts of Kraaifontein, for example, Scottsdene or Windsor Park, for as little as R400 000, but at the other end of the price scale, homes are selling at close to R2 million, and the average price in the area is now around R1 million.

This average, calculated on his recent sales, is 10% higher than some recent official estimates, but he says these have not kept pace with price rises.

Asked what apart from affordable prices and the convenient central position well supplied by public transport attracts buyers to Kraaifontein, Tredoux says it also has well-established schools in which discipline is good and results are satisfactory.

This three bedroom house in Kraaifontein is on the market for R950 000 - click here to view.

There are churches and retail centres, and it is within five to ten minutes’ drive away of one of the Cape’s most popular retail complexes, Cape Gate. In addition, he says the vast bulk of the houses in the area are on their own stands, and although they can be as small as 65sqm, they are usually in good condition.

Tredoux says a fairly high percentage of those wanting to live in Kraaifontein opt to rent, and this is often because they have not yet assembled the necessary cash to buy, or have a poor credit record.

The demand has pushed rentals for a two bedroom home to between R6 000 and R7 000 per month, and for a three bedroom home between R7 000 to R9 500 per month. These figures have risen some 40% in the last three years.

He says those hoping to buy in Kraaifontein should probably have household income of at least R20 000 per month.
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