Estate Living Magazine Investment - Issue 34 October 2018 - Page 28
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
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
Observatory, launched last February, and all the one-
bedrooms under R2 million sold in the first day.