Cape Town's The Rockefeller is perhaps not so affordable

CAPE TOWN - Cape Town’s new apartment complex, The Rockerfeller aims to provide affordable living in the City center and has already sold R220 million worth of units within the span of one week. 

However, enraged Twitter followers claim that these apartments are not affordable at all. 

The development launched on March 15  and boasts 278 apartments spaced out over 13 floors. 

The 13-storey development by Narrative and Ryan Joffe Properties features apartments which range from 23m² to 44m² with a starting price of R1.26 million. 

Meanwhile, the highest priced unit for sale is R 3 654 000. 

The developers said that the construction of The Rockefeller is to provide accessible and affordable apartment living within the CBD.

“There are no other developments within the Cape Town CBD at this price point, and in an over-subscribed and under-supplied market, prices have soared and owning property has become largely out of reach for many”, says founder of Ryan Joffe properties, Ryan Joffe.

The Rockefeller is also located close to highways and transport routes which makes it easy to commute. 

   Picture: The Rockefeller apartment. (Supplied). 

READ ALSO: Are millennials changing the status quo for future developments?

Owners can also access some of the facilities within the apartment which include a restaurant and bar, rooftop pool, laundry service and fibre connection. 

Joffe says that The Rockefeller is an apartment suited for young professionals. “Affordable, central city living for young professionals, superb investment opportunity as well as a design aesthetic upgrade for the area – the three key drivers of this progressive development". 

So far, R220 million worth of units have already sold out within 7 days which shows how sought after Cape Town's property market really is. 

Yet, Twitter followers seem to disagree with the supposed affordability of these apartments, labeling it a "match box". 

The more I read up on this, the angrier I get though. They're selling 'apartments' smaller than most hotel rooms for R1.26mil.

— Batcat (@greenorb) March 27, 2018

 

Oh but there's a concierge and an area with free wi-fi. pic.twitter.com/9UwgEIcxbg

— Steve van Niknak (@Zombie_Phil) March 27, 2018

Ridiculous. I'm moving house on Friday. 250 squares. So new the kitchen is still being finished. Fourways. Renting.

I could rent it for about 15 years for the price of that matchbox above.

— Matt Young (@MattYoungZA) March 27, 2018

Cape Town property prices are on an acid trip.

— Super Natz (@NatalieAndrew) March 27, 2018

pic.twitter.com/wltjY24Pvp

— Z (@zaahidah_ay) March 27, 2018