Cape Town is getting a pink apartment block – with studios starting at R1 million

Property developer Signatura is launching its latest project – The Rose on 117 in Cape Town: a pink eight-storey apartment block that offers 61 units and a rooftop pool with views of the city.

The group launched sales for the development this week (23 June), with the project expected to be completed in 2024. The project is specifically targeting investors that are looking for a “hassle-free entry” into the short-term letting market.

Apartments range from 26 to 56 square metres (excluding balcony space), with prices ranging from R995,000 to R2.75 million.

The rooms are fully furnished in partnership with premium furniture group Weylandts and have been designed, priced and packaged with “Airbnb-friendly features” such as air-con, a work nook, WiFi, smartphone-activated access and short-stay rental management by Perch.

While the developers boast that studio apartments start under R1 million, only one of the 61 units comes at this price. Most other studio apartments start at R1.225 million and go up to R1.925 million.

At 26/27 square metres, the apartments are around the size of a shipping container (~30sqm).

The two-bedroom apartments start at R2.195 million up to R2.75 million.

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Read: A look at South Africa’s newest ‘skyscraper’ – with one-bedroom apartments from R2.18 million

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Cape Town is getting a pink apartment block – with studios starting at R1 million