The adage “location, location, location” could have been written for Camps Bay. As an investment, according to agents in the area, you can’t go wrong. Most of them struggle to keep up with demand. Here’s why:
In 1979, the average price of a house in the suburb was just R33,000. By 1997, an agent broke the R4m barrier with a record R4.75m sale, and then resold the same property again in 2007 for R14m. That equates to a growth jump of almost three times the original price in only 10 years.
Camps Bay has also now reached an average sales price of R10m, some 54% more than it had been five years ago.