Sea Point is one of Cape Town's most affluent and densely populated suburbs, situated between Signal Hill and the Atlantic Ocean, a few kilometres to the west of Cape Town's Central Business District (CBD).
Sea Point is a suburb of Cape Town and is situated on a narrow stretch of land between Cape Town's well-known Lion's Head to the southeast and the Atlantic Ocean to the northwest. It is a high-density area where houses are built in close proximity to one another toward the surrounding mountainside. Apartment buildings are more common in the central area and toward the beachfront. An important communal space is the beachfront promenade, a paved walkway along the beachfront used for strolling, jogging, or socialising. Along the litoral of the Sea Point promenade, the coastline has varied characteristics. Some parts are rocky and difficult to access, while other parts have broad beaches. Sea Point beach adjoins an Olympic-sized seawater swimming pool, which has served generations of Capetonians since at least the early 1950s.
Sea Point is the only seaside suburb of Cape Town with significant high-rise development and this, along with other factors, has made it a very popular residential area, or for investing in first or second homes and apartments.
In the last 12 months SEA POINT had 361 properties that sold.
If you are looking for an investment property, consider houses in SEA POINT rent out for an average of R 32 000 per month, with an annual rental yield of 5,53 %, and apartments rent for an average of R 17 100 per month, with a rental yield of 4,49%.
Based on five years of sales, SEA POINT has seen a compound growth rate of -19.66% for houses and -17.20 for apartments.
Average rental per month in SEA POINT @ June 2022
1 bedroom unit: R 12 900
2 bedroom unit: R 17 100
3 bedroom unit: R 27 600
House: R 32 000