A Positive Outlook for Bellville and the Greater Tygerberg Area: Insights from a Decade of Property Investment
This report provides a brief analysis of the scale, nature and type of property investments within the Greater Tygerberg Area (GTA) over the period 1 January 2010 to 31 December 2020. It uses a dataset provided by the City of Cape Town which includes all development applications for the suburbs within the GTA.
Concluding notes by Our Future Cities director, Rashiq Fataar
We hope this brief report helps to provide a better perspective on the last decade of property investment in Bellville and Greater Tygerberg Area. Reviewing and analysing the data has been useful to gauge the scale, nature and location of public and private property investments in the region.
It is hoped that some of the insights may assist existing investors and attract prospective investors.
The decade from 2010 to 2020 paints a positive picture. Not only did commercial, residential and industrial areas all show 20%+ annual growth rates in investment, particularly areas like Bellville CBD, Stikland Industrial and Tygervalley showed high growth rates of 52.5%, 48.2% and 76% respectively.
The fact that major developments over R50 million only accounted for 31% of the total investment in the area, with 36% under R5 million shows confidence by smaller investors or homeowners in the areas in which they live.
The data suggests that despite the impact of the 2017 water crisis and COVID-19 pandemic, the GTA may continue to see significant private and public property investment for the next decade. Especially as confidence and public investment in the region grows and large-scale transport infrastructure projects are delivered.
Despite the economic downturn in 2020, total investment in the GTA was R477 million in 2020 (54% of 2019).
Recent data from the City of Cape Town’s Development Management Department for the period 27 March 2020 to 22 April 2021, indicates that already over 6,000 building plans were approved for the Northern and Tygerberg districts in which the GTA falls within.
A vast supply of available sites for housing, well-located industrial areas as well as suburban neighbourhoods well served by health infrastructure, a diversity of retail, education facilities and park areas will ensure resilience into the future.
Contact us to read the full report.