Cape Town property prices drop by close to R10m

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DURBAN – Over the last three months, sellers in Cape Town’s swanky Atlantic Seaboard and Constantia Upper areas have reduced their asking prices by up to R10 million to conclude a sale according to the latest sales data.

Ross Levin, managing director for Seeff Atlantic Seaboard and City Bowl said that as a result of the continued weak demand at the upper price levels, sellers are now offering steep discounts to attract buyers. Some recent sales have been concluded at anything between 20 percent – 50 percent below the asking prices.

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