MAIN IMAGE: Ryda Kloppers and Jakes du Plessis, franchisors of RealNet City Bowl and Atlantic Seaboard.
RealNet
The City Bowl and Atlantic Seaboard areas in Cape Town currently offer some of the best investment prospects in years for both South African and foreign property buyers, according to Ryda Kloppers and her husband, Jakes du Plessis, who are heading up the new RealNet franchise covering these areas.
“There are two main reasons for this, the first being that there is extremely high demand for rental properties in these areas, especially from people moving to the Cape from other provinces and countries who want to experience and evaluate various parts of the city before deciding to buy their own home,” they say.
“And the second is the current Rand exchange rate against major currencies such as the Euro, Pound or US Dollar. This makes it much more affordable for foreign buyers to acquire property in high-end areas like the Atlantic Seaboard and City Bowl – and get great value for their money. For example, an R5m apartment in the City Bowl will only cost around GBP208 000 currently, while an R20m home on the Atlantic Seaboard will cost just under USD1m.
“And with all the publicity that Cape Town has had recently as one of the top cities in the world to visit and live in**, we’re not surprised at the rise in interest, especially among investors looking for an alternative to overcrowded second-home destinations in the northern hemisphere.”
They note that the latest rental statistics are also a positive for prospective investors. “According to the latest PayProp Rental Index, the Western Cape is the most expensive province for renters, with an average rent of almost R10 000 a month (compared to the national average of around R8500) and yet rentals are still escalating due to the shortage of supply in relation to demand – which is even more exaggerated in the City Bowl and Atlantic Seaboard areas.
“The current annual rental growth rate in the Western Cape is 4,3% (national 4,6%), and with the inflation rate expected to show a continued decline, we are anticipating real growth in 2024. Meanwhile, the region also has the smallest percentage of tenants in arrears, or 14,1% compared to a national average of 17,5%, which is itself the lowest figure seen since 2020.”
Ryda is an attorney who has specialised for years in real estate matters and is on the panels of several major banks. However, she says she did not hesitate when the opportunity arose to acquire the RealNet franchise for two of the most sought-after areas in SA. This franchise will shortly open an office in De Waterkant.
“I have a real passion for property and matching buyers and investors to the right home. It is such a pleasure to be involved in this process from start to finish, not just at the end of the transaction when the property is transferred”.
Jakes is a property professional who has also had more than 22 years experience in the restoration and upliftment of residential properties and as a guesthouse owner, all of which come in handy, he says, when finding and highlighting the potential of individual homes and connecting willing and able buyers to their dream properties.
“We are also delighted to be part of the RealNet group specifically because of its high ethical standards, superb training and support and excellent franchise model, which is not rigid but evolves to meet changing market circumstances,” they say.
They are currently recruiting a team of “serious and committed” property professionals and are excited about the prospects of the new franchise. “We know that we are serving a very niche market, where many owners have been residents for years and have definite expectations and preferences when it comes to property values and services.
“However, we are taking a fresh approach that we believe will make a real difference to all our clients here and gain us a significant market percentage within the next 12 months. Current market intelligence and exceptional, personalised service will be the keys to our success.”
