A tiny bachelor apartment in Sea Point – measuring just 24 square metres – is selling for R3,3 million, leaving many South Africans confused and outraged.
The property is located in a sought-after area of Cape Town, offering sea and mountain views, access to world-class beaches, and other tourist attractions.
TINY SEA POINT APARTMENT COMES WITH R3,3M PRICE TAG
In a TikTok video, content creator @tay_talk_tok reacted in shock to the listing of the multi-million rand property in Sea Point.
“R3,2 million for 24 square metres….so you can lie in your bed and touch your fridge
She continued: “You’re mad if you think this is normal. It’s important that we do not normalise this. This is wild.”
@tay_talk_tok Cape Town Property prices need to chill. I will never be able to normalize the digital nomad- ness of the pricing of property. What is going on?🥲 #capetown #propertyprices #digitalnomad #icanteven #contentcreator ♬ original sound – tay_talk_tok
In the comments section, many concurred.
Christinah: “You could buy a four-bedroom house in JHB for that price 😭”
Comfort Sibanyoni: “R3.2m for a back room inspired apartment is diabolical.”
ZaniBun🇿🇦: “What do they mean by one bedroom? There is no bedroom!🤣”
According to a property listing, the “one bedroom” listing is located in a new development on the Sea Point promenade. It is also close to shops and entertainment venues.
The listing reads: “An ideal investment opportunity, the apartment offers short and long term rental appeal, with excellent AirBnB potential thanks to it’s prime location and high demand from local and international visitors”.
WHY ARE CAPE TOWN PROPERTIES SO EXPENSIVE
Residential areas like Sea Point, Camps Bay, Clifton, and Greenpoint have seen a rapid rise in property values.
This can be attributed to the city’s gentrification, where in-demand real estate replaces and displaces lower-income, and typically non-white communities.
With the influence of foreign investors and digital nomads, living in Cape Town can cost a fortune.
According to Cape Business News, Sea Point is an in-demand location for many South Africans and tourists, thanks to its proximity to both the beach and mountains.
The African Investor reported: “The type of people attracted to Sea Point is quite diverse. It appeals to young professionals, international expatriates, and retirees alike.
“The area’s cosmopolitan nature, combined with its accessibility to Cape Town’s business district, makes it ideal for those working in the city but wishing to live by the sea.
“Furthermore, its safety, amenities, and quality of life are factors that attract a more affluent demographic.”
Apart from serving as a residential area, the area is populated with retail, restaurants, and service facilities.
