{"id":215227,"date":"2017-12-07T09:38:58","date_gmt":"2017-12-07T07:38:58","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=215227"},"modified":"2017-12-07T09:46:03","modified_gmt":"2017-12-07T07:46:03","slug":"cape-town-parking-bay-on-sale-for-r1-1-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/215227\/cape-town-parking-bay-on-sale-for-r1-1-million\/","title":{"rendered":"Cape Town parking bay on sale for R1.1 million"},"content":{"rendered":"

A parking bay in Bakoven, Cape Town, has been listed to sell for R1.1 million<\/a><\/strong> – or R61,000 a square metre.<\/p>\n

According to the listing,\u00a0the 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.<\/p>\n

“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.<\/p>\n

Earlier in the year, a bay in Clifton went on sale for R1 million<\/a>.Unlike that parking spot however, the Bakoven bay is in a closed garage.<\/p>\n

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.<\/p>\n

Notably, in these micro-apartment developments, parking bays come at an additional cost of R250,000.<\/p>\n

The\u00a0Atlantic Seaboard is notorious for being an area where parking is scarce, and therefore has a history of over-priced parking bays.<\/p>\n

As far back as 2009,\u00a0Pam Golding Properties<\/a>\u00a0sold single basement parking bays in two\u00a0 Clifton residents for R580,000 and R750,000, while another sold for a staggering R2 million in 2008.<\/p>\n

At the time, the garage sale set a new record for bricks and mortar prices in South Africa in square meter terms. The space fetched around R111,000 a square metre.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read:\u00a0A look inside Cape Town\u2019s new R1 million \u201cmicro\u201d apartments<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A parking bay in Bakoven, Cape Town, has been listed for sale for a price of R1.1 million.<\/p>\n","protected":false},"author":10,"featured_media":215245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9876],"tags":[],"class_list":["post-215227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/215227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=215227"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/215227\/revisions"}],"predecessor-version":[{"id":215257,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/215227\/revisions\/215257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/215245"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=215227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=215227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=215227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}