Cape Town parking bay on sale for R1.1 million
A parking bay in Bakoven, Cape Town, has been listed to sell for R1.1 million – or R61,000 a square metre.
According to the listing, the 18 square metre bay is part of a well-run, small sectional title complex, with easy access to Camps Bay’s main thoroughfare, Victoria Road.
“The complex is perfectly situated within walking distance to the Camps Bay Beachfront, as well as Bakoven’s bungalows and beautiful beaches,” said sellers, Marion Taylor properties.
Earlier in the year, a bay in Clifton went on sale for R1 million.Unlike that parking spot however, the Bakoven bay is in a closed garage.
Space in the city, no matter the size, is selling for a premium. A current trend is for the development of ‘micro-apartment’ living – 20 square metres priced up to R1 million.
Notably, in these micro-apartment developments, parking bays come at an additional cost of R250,000.
Source: businesstech.co.za