Wynberg, says Tanya Jovanovski, franchisee for Rawson Auctions in the Western Cape, has proved to be one of the Cape’s most ideal property investment nodes in the last five to ten years – especially for those favouring the fast growing middle and lower middle price categories, where rental demand in the Southern Suburbs is so strong.
“Every one of the apartments we have sold in Wynberg has achieved a good price and everyone has given investors a satisfactory return on their outlay, as well as regular annual increases,” said Jovanovski, “and I have no doubt that this new offering will do the same.”
The latest apartment to come on the market, said Jovanovski, is on the second floor of the secure gated complex, Egham Hof. The apartment has two bedrooms, a modern kitchen, a living room, a bathroom with a separate toilet, a large garage, a parking bay and a communal garden which can be enjoyed at any time of the day or night.
The complex is conveniently sited as it is close to the Maynard Mall shopping complex and near to the main bus and train routes.
The client has set a reserve price of R400,000, which, said Jovanovski, is ‘great discount’ as the going price for other units of this kind in the complex is R500 000.
The rental income from this unit is R3,200 per month.
The auction will take place on the 20th of December at Rawson Auctions’ new offices – 126 Main Road, Diep River – opposite the clothing factory shop, Meltz.
Rawson Auctions do not charge a bidding registration fee. They do, however, insist on a 5% deposit and a 10% auctioneer’s fee being paid on the fall of the hammer. These conditions, said Jovanovski, are almost non-negotiable.
