Just about every property investor will have their own opinion on the best places to buy vacation rental property in Cape Town. Depending on who you speak to, some may tell you that places such as Camps Bay are the only option worth considering. Others may tell you that places a bit out of town are better, as they have a lower entry price for buyers. Ultimately, the truly best place is the one that works within your budget and overall goals.
With that said, there are a few ways that you can make the search easier. Knowing how to compare places and see their potential value will go a long way in helping you make an informed decision when searching for the best places to buy vacation rental property.
Best Places to Buy Vacation Rental Property
How exactly do you determine which places are worth investing in? Basing your decision on your own experiences and preferences may not be the smartest move. To evaluate an area’s success for short term rental, you need to consider a number of factors. Try these useful tips to make an educated decision.
- Places that are established as vacation destinations. Up and coming areas may become the next big thing. They may also stay up and coming, without ever getting anywhere. Established areas on the other hand are usually almost always the best places to buy vacation rental property, because they already have a reputation among travellers and tourists. It will be a lot easier to develop a short term rental marketing strategy for property in a well-known area. Make a list of the most popular areas, then use that as your starting point.
- Places that are central and easy to access. Another factor to take into account is the area’s centrality. How easily will tourists be able to get to major landmarks, attractions, beaches and transport routes? If the area is further away from the City Centre, it might make it harder for guests to truly enjoy their holiday. If the area is in easy reach of restaurants, shops, museums, beaches and other attractions however, guests will be able to enjoy their vacation without having to spend all day on the road.
- Places that are safe and relatively crime-free. Let’s be honest – crime is a global issue that happens almost everywhere. Despite Cape Town having a reputation among some travel groups for being unsafe, the city is generally safe for visitors and the majority of travellers will not have any problem. With that said, finding an area that is safe is key. Clifton and Camps Bay for instance are known to be a lot quieter and safer than the Cape Flats. Do your homework in advance to find out which areas are the safest.
- Places that are rich in scenery. One of the reasons that the Atlantic Seaboard remains a hugely popular area is that it has some of the most spectacular ocean views imaginable. Villas and apartments with sea views almost always out-compete those without. In the CBD, urban views or views of the mountain are always in demand. Look around when visiting a prospective place. What views can you see? What makes the area scenic, and, would prospective guests enjoy the views?
- Places that have a bit of a vibe. When we say vibe, we mean that hard to pin down atmosphere that makes people enjoy being in the neighbourhood. Perhaps it is the cafe culture, or the friendly locals. Maybe it is the selection of cocktail bars, or the year-round sense of vacation that can be enjoyed even in the middle of winter. Assuming your prospective place ticks the boxes above, sometimes your final decision can be as simple as feeling at home when you’re in the area.
Luckily, with so many options to choose from, finding the best places to buy vacation rental property is not as hard as it seems here in Cape Town. Whether you settle on the Atlantic Seaboard or the vibrant City Bowl, make sure that your rental has the best chance of success through tailored vacation rental management solutions from Totalstay.