Old and new developments in Cape Town
Cape Town, one of the most beautiful cities in the world, is known as the Mother City of South Africa, one thinks largely because the area that was to become Cape Town later on, was the first European settlement on the southern tip of the mighty African continent.
As the oldest erstwhile town that was subsequently given city status, it must surely be the mother of all other towns and cities that were to follow as the rest of the southern African region was explored, settled and developed. There are other theories and speculations about the origins of this alternative name for Cape Town, but none have been positively verified.
Other long-ago names given to Cape Town
In the latter part of 1488, Bartholomeus Dias erected a cross on land in what was to become False Bay. At the same time, Dias gave the name “Cape of Storms” to the Cape, because of the inclement weather and violent storms in the Cape seas that wrecked many sailing vessels, sometimes costing the lives of all aboard.
Somewhat later, Portuguese King John ll renamed the Cape of Storms as the Cape of Good Hope, indicating his wish that a silk and spice sea trade route would become possible via the Cape.
Cape Town’s first developments
Jan van Riebeeck landed at the Cape of Good Hope on the 6th of April 1652. He was sent by the Dutch to establish a station at which VOC ships could obtain fresh water and replenish foodstuffs. The Cape’s first “development” was a rudimentary building, a shelter and defensive structure, rather crudely made of mud and wood.
Company men were given permission to own land, on which they were to cultivate food and cattle to supply the settlers and company ships in transit to the East. As the local population grew and the number of ships calling at the Cape increased, demand for supplies began to outstrip the supply thereof. Additional, new development was inevitable, and it still continues today.
New developments in Cape Town
Cape Town and its surrounding areas are immensely popular places in which to live; everyone dreams of living there. Despite the fact that Cape Town was once thought of as rather sleepy and very laid back by fellow South Africans who lived and worked elsewhere in the interior of the country, the Western Cape has become one of the most vibrant luxury property sectors in the entire country.
New developments abound, even in rather tough economic conditions. Cape Town is also a city of contrasts. In some cases, historic Cape Dutch and heritage buildings exist almost seamlessly, side by side with modern, cutting-edge modern new developments, part of this lovely city’s appeal.
Nevertheless, property dealings and new property developments in Cape Town are big business. According to research and a study undertaken in 2011 and 2012 by an organisation that categorises very affluent individuals according to their assets’ value, most of Cape Town’s ultra-high net worth individuals and millionaires had made most of their money via lucrative property transactions at that time, rather than in their career-based business endeavours.
While well-established suburbs like Clifton, Bantry Bay, Constantia, Tokai, Camps Bay, Llandudno and Bishopscourt remain extremely popular and sought after by ultra-wealthy property buyers, somewhat newer suburbs are also emerging near the top of luxury lists, since they still offer space and opportunities for new developments.
Guiding you through new property developments
Fine & Country South Africa specialises in the luxury and ultra-luxury property market in all centres of South Africa and most definitely in Cape Town. Because the Cape is so universally sought after, both locally and internationally, price is seldom an issue; existing luxury properties as well as those in new developments are snapped up. However, our agents are perfectly placed to guide you through every step of your new Cape Town acquisition.
