If you are thinking about buying vacation rental property, choosing the right area is hugely important. One of the areas that continues to attract large numbers of leisure and business travellers is Gardens. This leafy suburb lies in the heart of the Cape Town City Bowl, flanked by Tamboerskloof and Vredehoek on each side, and the Inner City just a short distance away.
What makes this area worth considering for your investment, and what else do you need to know about this part of the city? Let’s take a look.
What to Know About Buying Vacation Rental Property in Gardens
With its large percentage of mature trees, lush gardens and scenic surrounds, it’s easy to assume how the area got its name. Looking back at its history however, the name soon becomes even more apparent. When the Cape was still in its early stages, Jan van Riebeeck was commissioned by the Dutch East India Company (VOC) to establish a settlement that could provide passing ships with fresh produce. The first garden was established in 1652, on a site near the Fresh River that is close to where the Grand Parade stands today. Later in that year, the garden was moved across the river, closer to where Adderley Street lies today. The garden included a vegetable, fruit and herb garden and grew to about 18 hectares in a few years.
But, as produce became more easily available from the garden established at Newlands, and from the farmers who had set up on the Liesbeeck River, the urban garden was eventually transformed into a botanical garden. The garden known today as the VOC Company’s Garden was lined with citrus trees, and later, oak trees were planted by Simon van de Stel, which still remain to this day. This is the renowned garden that houses the South African National Museum and Planetarium – a major tourist attraction that receives a great deal of visits throughout each year.
If you are thinking of buying vacation rental property in the CBD area, Gardens is well worth considering. The area has the advantage of being both central and scenic, making it popular with a wide variety of travel markets, from business to honeymoon, family and general leisure groups. A few reasons to consider this area include the following:
- Central and convenient. Aside from the coastal areas such as Camps Bay and Clifton, Gardens is consistently one of the most sought-after areas for travellers visiting Cape Town. The primary reason for this is its central location. Landmarks such as the Company’s Garden, Long Street, Greenmarket Square, Kloof Street, the South African Museum, the South African Art Gallery, the Holocaust Museum, the Slave Lodge Museum, Bo Kaap, Castle of Good Hope, Lion’s Head and Signal Hill are all within walking distance. There are also many restaurants, shops, wellness centres, facilities and service providers found in the area, many of which can be found at the nearby Gardens Shopping Centre and the Lifestyles on Kloof mall. Then there are the quirky highlights on offer, such as the old-fashioned Labia Cinema, charming vintage stores, hip tattoo parlours and ubiquitous sidewalk cafes.
- Variety of properties available. Whether you are considering an apartment, modern villa or even a multi-tenant complex, buying vacation rental property in this area gives you plenty of choice. While the area is affluent in general, property prices are within a reasonable range. This makes Gardens an excellent choice for those wanting to enter the short term rental market. Apartments fall within the R4 million range on average, with some priced below and some in the higher price bracket. Free-standing cottages and properties include older character buildings as well as modern properties, with prices averaging on the R5 million to R16 million range. As vacation rentals in this area are in high demand, the return on your investment is often quickly realised.
- Diverse and flexible. Thanks to its central location and variety of property types, Gardens is an extremely flexible area for those investing in vacation rental property. Business travellers will be attracted to the lock-up-and-go ease and convenient location near the CTICC (Cape Town International Convention Centre) and CBD. Honeymooners will be attracted to the sheltered gardens, compact apartments, quaint cottage style and abundance of spas and restaurants. Families will find plenty of spacious properties here, along with gardens and nearby child-friendly attractions. Leisure travellers will be able to take in the top sights of the city, while exploring tourist hot-spots such as Long Street and Kloof Street.
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