Estate Living Magazine Investment - Issue 34 October 2018 - Page 28

Breaking ground with Cape Town student accommodation at the right price 'Our upcoming studio units in Obs are ideal for first-time investors’ – Rawson Developers’s Brad Morgan Smaller units geared to students and short-term renters, sold at competitive price points to first-time buyers or investors, is Rawson Developers’s winning formula that is leading the property market in Cape Town’s Southern Suburbs. Rawson Developers’s two flagship developments in Observatory, Madison Place and The Paragon, are geared mainly to young professionals and students. Their fastest-selling units are the one-bedroom apartments (around 40–45 square metres). These were sold out at The Paragon soon after they were launched two years ago, for around R1.5 million, and are fetching rentals of approximately R10,000 to R 12,000 per month. The compact two-bedroom units at launch were priced at around R2 million, and are currently fetching rentals of about R14,000 to R 16,000. The Winchester, also in Madison Place 26 | Observatory, launched last February, and all the one- bedrooms under R2 million sold in the first day.