Mystery around Mmusi Maimane and 'his' R3.85m Claremont house

[Mila]

somerset west is like 40m away from CT CBD, its a stretch to say you are living in CT if you live in somerset west

true

 

[SauRoNZA]

As a vaalie, I must say I am missing some nuance here. Why is this sh!thole - is it perhaps related to community that stays here?

View attachment 714075

That a bit better.

I read Palmera Junction to literally refer to the road which is like the main liner through there.

But you’d never catch me living in the Southern Suburbs purely because I like to be able to park in front of my own house.

The road and side walk planning is non-existent there in most areas, as you can see in the picture.

 

[Gordon_R]

This thread has derailed several times, but the issue of property prices and rentals in Cape Town is a complex one. In particular the Southern Suburbs have fine nuances, due to complex geography and history (including the Apartheid Group Areas Act). There are significant boundary markers such as the Main Road, railway line, Rosmead Ave and M5 (all north/south), plus others such as the east/west transport corridors.

The biggest determinants are closeness to schools, transport, and shops, plus distance AWAY from crime and grime. This is known as location, location, location!

FYI, Claremont straddles most of those boundaries, and is one of the most non-homogeneous suburbs imaginable.

Edit: Look closely at the map:
https://www.google.com/maps/place/C...fbdc90a0e82eac!8m2!3d-33.9860035!4d18.4721169

 

[SauRoNZA]

the point being that 15k rental on a R1.8m property is close to market rates, and 15k rental on a R4m property is well below market rates

The latter I can happily agree with, the former not so much unless it’s really a spectacular place or location.

Anyone who has 15k to rent with and isn’t buying instead should have their heads read though.

 

[SauRoNZA]

10 Chaucer Rd

According to google maps. You couldn't pay me to stay there, looks like a sh!thole, for 16K go buy yourself a small home in the northern suburbs.

16K a month I would even call large out north.

Or small in the latest and greatest villages with all the amenities.

 

[saturnz]

This thread has derailed several times, but the issue of property prices and rentals in Cape Town is a complex one.

its not that complex, the issue is whether 25-35k is the market related rental on a 4m property

the rates on a stand alone house will probably be close to R1500 and building insurance close to R5000 so to charge R15000 rental would be stupid

 

[ForceFate]

So the parliamentary village with all its security etc is safe for everyone else but Maimane?

The timing - death threats in 2017 result in the family friend buying a house for Maimane and then he 'rents' it from him?

He is so stupid he doesn't understand how the member's interests list is supposed to work?

And there is no story here? None?

What if those death threats were from within the village?

 

[Gordon_R]

its not that complex, the issue is whether 25-35k is the market related rental on a 4m property

the rates on a stand alone house will probably be close to R1500 and building insurance close to R5000 so to charge R15000 rental would be stupid

Further off topic, but the value of a property is a combination of the land and the buildings. It is quite possible to have two different properties with the same market value, and completely different rental. A derelict commune on a large plot, versus a luxury house on a postage stamp. Claremont has both.

 

[saturnz]

Further off topic, but the value of a property is a combination of the land and the buildings. It is quite possible to have two different properties with the same market value, and completely different rental. A derelict commune on a large plot, versus a luxury house on a postage stamp. Claremont has both.

so when Mmusi is talking about market related rental, he is talking about living in a derelict commune on a large plot with two different properties with the same market value.

 

[Splinter]

Yes, but I asked this in context to people objecting to what you charge rental so I didn't get the point. Are you charging too less in their opinion?

No, getting R15k on a R1.8m property is extremely unlikely. Especially given the current rental market in the Cape.

Unless saturnz is doing something like squeezing two or more families into this property...

 

[Sensorei]

No, getting R15k on a R1.8m property is extremely unlikely. Especially given the current rental market in the Cape.

In Claremont/Rondebosch for a very upmarket 2 bedroom flat that would cost you R2.5 million you're looking at about R15K/month rent.

 

[Adenoid Hynkel]

No, getting R15k on a R1.8m property is extremely unlikely. Especially given the current rental market in the Cape.

Unless saturnz is doing something like squeezing two or more families into this property...

I have a property in Gordon's Bay that is valued at 1.5 and it's being rented out for 13.5.

 

[surface]

I have a property in Gordon's Bay that is valued at 1.5 and it's being rented out for 13.5.

you BEE people..

 

[Splinter]

I have a property in Gordon's Bay that is valued at 1.5 and it's being rented out for 13.5.

That would be anomalous. When did you get this valuation done? And by whom?

 

[Adenoid Hynkel]

That would be anomalous. When did you get this valuation done? And by whom?

Multiple agents. And this was done beginning of last year.
I didnt pay that amount though. I bought this property in 2013 for under a mill.

A house in the same street, similar in size was recently (few months ago) sold for 1.45.

 

[Splinter]

Multiple agents. And this was done beginning of last year.
I didnt pay that amount though. I bought this property in 2013 for under a mill.

A house in the same street, similar in size was recently (few months ago) sold for 1.45.

Interesting. Does it have a large number of rooms by any chance?

 

[Adenoid Hynkel]

Interesting. Does it have a large number of rooms by any chance?

Yes. 4 bedroom. Plot is 500 square and building size is 220.

 

[Arthur]

This thread has derailed several times, but the issue of property prices and rentals in Cape Town is a complex one. In particular the Southern Suburbs have fine nuances, due to complex geography and history (including the Apartheid Group Areas Act). There are significant boundary markers such as the Main Road, railway line, Rosmead Ave and M5 (all north/south), plus others such as the east/west transport corridors.

The biggest determinants are closeness to schools, transport, and shops, plus distance AWAY from crime and grime. This is known as location, location, location!

FYI, Claremont straddles most of those boundaries, and is one of the most non-homogeneous suburbs imaginable.

Edit: Look closely at the map:
https://www.google.com/maps/place/C...fbdc90a0e82eac!8m2!3d-33.9860035!4d18.4721169

Yup. Good points.

I find it hard to understand how people can have these sorts of Length of String arguments.

 

[Splinter]

Yup. Good points.

I find it hard to understand how people can have these sorts of Length of String arguments.

The irony.....

 

[Splinter]

This is known as location, location, location!

Indeed. And location, location, location means higher prices and higher rents....