Here’s a 104m2 2 bed apartment in the CBD on the market for a hair under R2m. Now you can probably negotiate the price down but what you can’t negotiate down is the rates of R893/month and levies of R3285/month.
That’s an eye watering R4 178/month! Over R50 000/year! More than 2.5% of the current asking value of the property evaporated every year.
Lord help you if they ever need to put in a special levy for urgent repairs.
Original Post on Cape Town Property Bubble: High Rise And High Levies
