Century City

As investment or living? I looked at buying there for living (initially) then renting out. I think you can get some good deals there - and imagine the prices will go up once all the Century City development is complete.

Living wise, I stayed at the Island Club - which was my favourite of the complexes, purely because of its outside pool - and they also had an indoor heated training pool and gym.

I also stayed in Century Place, which I hated, the complex is badly run - and the wind there was terrible.

Also - which was annoying, the one side of the road is considered Milnerton, and the other side Century City - not a big issue, until you have to vote - then you're off to Milnerton instead of the Century City Club House.
 
Initially I'll live there for a couple of months, then renting out... It just seems that prices are heavily inflated (a 1bed is R950k) and you never know if / when the price bubble bursts... I've looked at places in Villa Italia, Bougain Villas and Waterstone... Villa Italia I think also has the gym / heated indoor swimming pool etc... Personally I'm not going to use the additional facilities - and it pushes the levy to R1400pm month which is monstrous! But ok might be a nice selling point when getting tenants.
 
The problem is the rent to bond ratio vary's quite a bit in Century City.

My first place in Island Club was R6500/pm for a pretty big 3-bedroom. (probably cost R1,600,000)

My second place in Century Place was R8500/pm for a smaller 2-bedroom - it was a small town house though, with its own pool - although with the wind, you couldn't use it. (probably cost R1,200,000)

If you look at the house I bought in West Beach, I paid R1,600,000 for a 670m2 property and a 315m2 house. It was rented out for R10,000 and the rent was about to go up to R12,0000, way better ROI. In about four years the rent will be more than the bond, providing the interest rate doesn't go to hell.
 
xrapidx said:
If you look at the house I bought in West Beach, I paid R1,600,000 for a 670m2 property and a 315m2 house. It was rented out for R10,000 and the rent was about to go up to R12,0000, way better ROI. In about four years the rent will be more than the bond, providing the interest rate doesn't go to hell.
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That is an excellent price ! I do not know the suburbs in CT, but R1.6M for 315 sq m is great. Here in JHB you can pay R2M - and more - for a 100 sq m apartment (no garden) if the address is right !
 
blunomore said:
That is an excellent price ! I do not know the suburbs in CT, but R1.6M for 315 sq m is great. Here in JHB you can pay R2M - and more - for a 100 sq m apartment (no garden) if the address is right !
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Yeh - IIRC it was valued at 2.1m by the bank on purchase (its in a thread somewhere on here) - it was valued the other day at 2.35m - so at least the property price has shown some recovery in my area.

The actual house was advertised at 275m2 total (or something similiar) - then when I got the plans, it was 315m2 excl covered patio and walkway, but including garage - so if you include the other covered areas its around 365m2.

It has two lounges, the one is still empty because I don't have furniture for it yet :p It will by my 'entertainment' room soon :)
 
I bought a 3bdrm flat there in December, quite happy. Levies are high but it does show in terms of the facillities and upkeep.
 
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