In recent years, property developments in Cape Town, South Africa, have completely redefined the skyline of the tree lined streets of Wynberg. This 414 unit development allows entry level investors to be able to afford their own home or investment property in the heart of the bustling southern suburbs. With easy access to transport networks, shops, schools and the cultural hub of Maynardville Park, this development has been a perfect way to address the ever increasing shortage of housing in Cape Town. The South African population is growing at a rapid pace and now, thanks to developments such as Grand Central, it is possible to take advantage of the economic growth and high rental demand within the country.

Investors can benefit from a 24 month guaranteed tenancy with a return of over nine percent, during which period the tenant will be managed for them.

An area of choice
There are three retail spaces on the ground floor with the main tenant being a Zone Fitness Gym with very affordable monthly membership fees. The residential section of the block has views of the mountains all around, braai areas, laundries on every floor, 100 visitor parking bays and 24 hour security. Levies and rates in this block are low compared to the surrounding areas. The Wynberg Chelsea area has houses that are currently selling for R2.5 million (£225,000), and these houses are six roads away from Grand Central. The development is close to well known schools like Wynberg Girls and Boys and Springfield Girls (private school). Maynardville Park is a popular place for families to have picnics and for cultural events like Shakespeare in the Park to be held in the outdoor amphitheatre during the much loved warm Cape Town summer evenings.

Steady growth
While viewing the current property market one will notice that South African property prices are on the rise again, meaning now is the perfect opportunity to start a property portfolio while prices are at a low. An investment in the cheapest Grand Central Studio at R410,000 VAT inclusive (£37,000), with a rental guarantee of R3500 (£315) per month, will only require a contribution of around R1000 (£100) per month towards the bond while the tenant will be paying the rest. After that, investors can sit back, relax and watch their capital value grow while the property market prices climb.