Parklands, Cape Town

[Whatzmyname]

If I were to invest, I would look to the northern suburbs instead.

Thanks. I have been looking at Durbanville too however every time I find something I like it is sold already.

 

[Other Pineapple Smurf]

Im also looking for investment property but cant pay more than 2.5mil which is very difficult in Cape Town. I definitely want a house not a flat or one of those security village homes where you pay levy as well.

I live in Somerset West and bought a 3 bedroom free standing house (140m2 house, 400m2 erf) for R735K last year. Could rent it out for R6K+ if I needed to.


Plenty of investment property, plenty of it.

 

[Other Pineapple Smurf]

Anyone know if its worth buying property in Parklands Cape Town? Some people say stay away due to a group of nigerians that live there but I see plenty of families living there and the area looks quite decent. Especially the new North Parklands area. Its also quite affordable compared to the rest of Cape Town where you get a hamster cage for a few million. Any input about this area?

Ignore the bad rap of Parklands. As mentioned its a very large area and people who make negative comments about it have most likely not been there in the last decade.

As for transport, there is the MyCiti bus which a lot of people use to get to the CBD.

 

[Whatzmyname]

I am looking at rental returns of 15K plus.

 

[Whatzmyname]

I know people who live in Parklands and they are happy but so many people tell me not to buy there and I am already put off to be honest of the area. Will keep looking at other areas even though the house might be a lot smaller. The north parklands homes are really nice and large....

 

[Musicmp3]

Having seen the area grow, the idea behind Parklands has been tainted. Lovely houses with flats on your doorsteps in places. Greedy developers and City planning has screwed the area.

Washing hanging all over, prostitutes not to mention some Nigerian trash!!

Rather go across the freeway to Bloubergsands/rise. Plenty of houses for R2m and relatively free of crime. Also within walking distance of the beach.

 

[SlinkyMike]

Beware.

A lot of the houses built there recently are not up to standard. Ash brick, poor foundations, leaking, un-insulated wiring sticking out from under thin layers of concrete... I've seen all of the above at more than one house.

 

[Other Pineapple Smurf]

I am looking at rental returns of 15K plus.

High risk rental then. Worth doing your research on this market and expect to get your rent late (and sometimes never). Also looking at buying our first investment property in next 2 years and I'm rather going to go with the basic units where the risk is lower.

I would rather have 3 flats worth a combined 2 million to rent than a single house. But each his own.

 

[Whatzmyname]

Thanks. I already own flats in Royal Ascot so I am not new to this game just trying out new areas for purchases. You make a good point about late rent. I used to own a house in Table View and it was a headache with late rent all the time...Hmmm,your making me think now....Perhaps I should just continue with flats instead of getting a house....