CT Stadium Boosts Local Property

City residents get first clear glimpse of the new face of Green Point and Mouille Point

With Cape Town’s World Cup stadium just weeks away from completion, city residents are getting their first clear glimpse of the new face of Green Point and Mouille Point. And what a face it is – a far cry from the area’s previous incarnation as a down-at-heel relative of its more glamorous Atlantic Seaboard neighbours.

Pam Golding Properties’ MD for the Western Cape metro region, Laurie Wener, has voiced excitement and confidence in the future of the area, saying its new, cleaner, posher persona bodes well for the property market. “When the stadium was first mooted,” says Wener, “there was a lot of trepidation and negativity around it. Many feared it would bring about a crash in local property prices, and would prove to be an ugly eyesore on our coastline. Now, with the nearly complete entity emerging from the dust, it is clear that quite the opposite has occurred. The stadium is a work of art and a positive node of activity for the area.”

Although there is still some dust amid the ongoing construction, a picture is emerging of what the finished product will be like, and it is a very positive picture indeed. More upmarket shops are moving into the neighbourhood, alongside trendy restaurants, bars and label stores. Buildings are being upgraded, pavements landscaped and a generally classier image is emerging. The new expanded Cape Quarter development is also nearing completion. In short, Green Point is finally starting to live up to its potential as a vibrant, cosmopolitan place to live, work and play. The suburb is now starting to look sophisticated and inviting.

PGP’s area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, adds that local residents in Mouille Point are already enjoying the benefits of the new stadium precinct. “There is a lot of excitement around the new views of the stadium,” he says. “The new walking track around the stadium is almost complete, and residents are already making use of it. More significantly, the value of residential units facing the stadium has increased. This in turn has caused the price per square metre of sea-facing units in the same buildings to increase.”

For more information on property in the Green Point and Mouille Point area, contact PGP’s Waterfront office on 021 439 1614.

For updates on property trends in the Western Cape and for happenings in and around Cape Town, be sure to subscribe to our free monthly Editor’s Picks Newsletter and follow us on Twitter.