Cape Town flats auction from R600 000
Three 2-bedroom properties in Kenilworth and Lansdowne are available with reserve prices starting at R600 000.
Three 2-bedroom flats in Cape Town suburbs Kenilworth and Lansdowne are up for auction with reserve prices starting at R600 000. These properties are located about 20 minutes from the city centre. One flat in Lansdowne has a R700 000 reserve and R12 567 in levy arrears, having last sold for R1.29 million in 2021.
A 57-square-metre flat in Kenilworth on Punters Way has a R735 000 reserve and includes R44 172 in levy debt. The City of Cape Town’s General Valuation Roll places this Kenilworth flat at R1.32 million, meaning the auction price would only cover 57% of its market value. Buyers must pay the bid price plus fees and commission within days of the auction.
Average sale prices for sectional titles in Lansdowne have decreased by 1.57% since the start of the year, reaching R935 000 by October. In contrast, Kenilworth sectional titles have increased by 12.43% year-on-year. Buyers with access to bridging loans could leverage these auction bargains as the first signs of an economic downturn become apparent.
Why it mattersBuyers seeking affordable family units in Cape Town may find opportunities at auction, but must be aware of additional debts and the quick payment required.