Nestled in the Southern Suburbs of Cape Town, lies a charming neighbourhood known for its leafy streets, historic homes, and vibrant community, named Kenilworth. Offering a blend of urban convenience and suburban tranquility, Kenilworth has lots of parks, top schools, and a variety of dining and shopping options.
Gabriel Walsh has been the resident area specialist in Kenilworth and Wynberg at Tyson Properties Western Cape for the last two years. He describes Kenilworth as a neighborhood with rich architectural heritage and in close proximity to the bustling city centre.
“Kenilworth is very fortunate, in that it is a suburb that is in a fantastic location between other very well established and high-end suburbs that offer things like walking trails, hiking and fantastic parks, but at the same time it is also affordable and accessible to the local market, in a city like Cape Town that has become internationally renowned and attractive,” Gabriel highlights.
Kenilworth appeals to both families and young professionals looking for a balanced lifestyle. “The local market for Kenilworth is both old and young and offers the opportunity for those to find their little secluded oasis,” he states.
Gabriel mentions that not only is it a nice place to settle down, but it has also become an attractive area to investors. In the last 12 months, Kenilworth has had 82 transactions, with the average price per unit being 1.5 million and the average time spent on the market being 35 days. Of these transactions Gabriel has sold 13 homes with a total value of R18 710 000, in as little as six weeks, achieving an average of 97% of the original asking price.
Kenilworth is one of the suburbs that has recently seen a surge in modern developments. This has transformed the area with modern apartments and other retail and dining spots. These developments blend seamlessly with the neighbourhood’s historic charm while giving the area a refreshed modern touch.
And there is still room for more development. “The cap has not been reached,” says Gabriel.
These changes have enhanced the local lifestyle, attracting a diverse range of residents and investors eager to be part of this growing and vibrant community. Gabriel points out that there is still a lot of potential for the suburb to grow in value, foreign investment and in capital.
The newest developments in Kenilworth are pricing higher at an average of 2 million, which in return is also increasing the price of older and well established properties in Kenilworth.
“The return on investment is fantastic and rental returns are exponential,” states Gabriel. The return on investment can be expected to be between 8-11% of the annual return on a rental property.
With the interest rate expected to drop soon, that means the demand for properties will be going up and so will the value of investment properties. That means if you’re thinking of selling or buying a property in Kenilworth, now is an ideal time to explore opportunities to do so. “Buyers local and international are hungry to purchase,” Gabriel emphasises.
Need more convincing that Kenilworth is worth it? Watch the video below to hear more insights by Gabriel Walsh.
