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News Article - Automotive
Eastern Cape property boom
Posted on: Friday, 29 November 2002. Article source: Eastern Cape Business News
THERE IS renewed interest in both the city centres and residential areas of the two Eastern Cape metros. Most recently, ApexHi Properties bought six properties in down-town Port Elizabeth for R45-million. Demand for office and retail space in the East London CBD is also reported to be booming. The Woolworths building was recently sold for just over R4-million. At least one investment company is reported to be buying as much property as it can in the city centre. Meanwhile, Coega is helping to push up house prices in Port Elizabeth. Homenet Anchor Realtors principal Adele Meusel, says that, despite the fact that residential prices have increased by 15 to 20 percent in the past year, there is still very good demand.
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