Reader TA sent in a link to this bank repossessed house in Milnerton on sale for R1 300 000. It was <a href=”http://capetown.gumtree.co.za/c-Flat-House-Real-Estate-vacant-land-properties-for-sale-Milnerton-RIDGE-BANK-REPO-W0QQAdIdZ91440408″>listed in December 2008 as on sale for R1 650 000. According to TA it was initially listed at R1 900 000, which means it’s dropped R600 000 in price, a 31.5% drop in asking price.
Looking at the pictures on the latest ad, it seems it’s never been occupied.
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