Cape Town is known for its astronomical property prices. But it seems a Bantry Bay garage selling for millions has taken the cake.
The listing has gone viral on social media.
BANTRY BAY GARAGE AND OTHER SHOCKING LISTINGS
In a property listing, a one-car garage in Cape Town’s affluent suburb of Bantry Bay has had social media users doing a double take.
The 18 square metre property – which measures the size of a single parking space – is located in a gated community on Victoria Road.
According to the estate agents, the space – priced at R2,2 million – is “secure and sought after.” The minuscule space also comes with a R473 monthly levy.
On social media, X users were both shocked and amused at the listing.
@MasonwabeWeber: “Guaranteed someone is going to buy it, slap a bed and bucket in there and call it a “rustic Campsbay” stay on Airbnb.”
@KoketsoResane: “That Ferrari has to park somewhere.”
@DeanKietzmann: “What’s the view of the beach like?”
@L_N_E_N_E: “Cape Town’s real estate market is an April Fool’s joke that refuses to end.”
Other X users have shared a look at more bizarre property listings in Cape Town.
One includes a listing for a SINGLE ROOM rental in a Sea Point apartment for R33 000 per month. The rental would entail sharing a living space with the apartment’s owner.
Another included a listing of a 90-square-metre bachelor apartment in Woodstock, Cape Town, for almost R1 million. According to the description, the owner has “maximised space” by doubling a bookshelf as a pair of stairs leading to a bed located above the living and dining area.
WHY IS PROPERTY SO EXPENSIVE IN CAPE TOWN?
According to various estate agents, Cape Town locations like Sea Point, Camps Bay, Clifton, Bantry Bay, and Green Point are highly sought after thanks to their proximity close to the beaches, business district, nightlife, and, of course, mountain views.
There is also the tourist factor of the city, which has a cosmopolitan population that has attracted foreign remote workers from around the world. International buyers – including many celebrities – are also responsible for lapping up many luxury properties in Cape Town and surrounding areas.
All these factors have resulted in high demand prices for properties skyrocketing.
According to Daily Investor, Cape Town is the most expensive city to live in on the African continent.
BusinessTech reveals that renting a two-bedroom apartment located in any of the above areas can easily cost R75 000 per month and above. Purchasing property in the area can range from tens to hundreds of millions of rands.
ARE PROPERTIES IN CAPE TOWN WORTH THE HEFTY PRICE TAG?
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