Real Estate & Editors' Choice News in South Africa from Propertyshowrooms.com

Cape Town is a ‘buyers’ market’

Fri, 13 May 2011 00:00:00 GMT

Demand for property in South Africa could be set to rise after it was claimed that Cape Town is currently a “classic buyers’ market”.

This is according to the latest report from Cluttons, which noted that homes take an average of 19 weeks to sell, with only 15 per cent of vendors able to achieve their original asking price.

The news is likely to be welcomed by foreign investors in the country, with them currently making up seven per cent of the total sales.

“British buyers can benefit from substantial discounts by shopping around. It is important to look for quality and prime locations,” Jacques Ellis, managing director, Cluttons South Africa, confirmed.

The prime areas in Cape Town are the Atlantic Seaboard and the Constantia Valley.

Mr Ellies added: “The bottom of the market has been reached and the middle and luxury end of the market offers substantial opportunity for price increases over the next few years.”

South African property market hopes for a World Cup boost

Thu, 17 Jun 2010 00:00:00 GMT

South African-based real estate agents are hoping to score with foreign property investors as a result of the football World Cup, it has been reported.

According to Overseas Property Professional, many agents are looking to attract a new range of buyers to the sector when they visit the country over the course of the tournament.

Laurie Wener, managing director of the Western Cape region for Pam Golding Properties, told the news provider that the event was an opportunity to showcase South African property.

The real estate expert explained that this was a once in a lifetime chance to "present our country, its tourism attractions and its fantastic residential property opportunities to a global audience and on an unprecedented, mammoth scale".

Province of the Western Cape property may prove to be a popular choice among potential investors, with the region hosting five first-round matches, one second round, one quarter-final and one semi-final during the tournament.

The 2010 World Cup kicked off on June 11th and finishes on July 11th.

Soweto: more than just a township experience

Fri, 12 Dec 2008 00:00:00 GMT

Boasting top of the range malls and its first four-star hotel, Soweto is a far cry from its apartheid-era past...

South Africa Property Trends Revealed

Tue, 25 Nov 2008 00:00:00 GMT

The Trafalgar City report 2008, reveals that analysis done on private and public sector property sales over the past two years has unearthed interesting trends throughout South Africa.

It showed that highly sought-after residential areas have experienced dramatic property price hikes despite escalating interest rates.

According to the report several suburbs have shown sales growth in three-bedroom houses and a corresponding drop in smaller home purchases.

The report highlighted that the worldview is slowly shifting towards sustainability and the concept of green building - the practice of increasing the efficient use of resources during construction, and reducing the impact construction has on human health and the environment.

South Africa has been criticised for lagging on these matters, which the report reflects is an issue the newly established Green Building Council of South Africa aims to tackle.

The government is also re-fitting more than 106,000 buildings and public offices in line with a policy of 'leading by example'.

News item compiled by Susandeacon.co.za

KZN tourism bucks shrinking economy

Mon, 24 Nov 2008 00:00:00 GMT

The global economic downturn seems to be having little effect on KwaZulu-Natal's tourism industry ahead of the festive season...

Australian property 'popular with South African investors'

Thu, 7 Aug 2008 00:00:00 GMT

A growing number of overseas property investors in South Africa are showing interest in the Australian market, according to experts.

Estate agency Pam Golding Properties stated that the country is proving to be a popular choice with prospective purchasers of real estate in South Africa, reports Cape Argus.

Simon Gibb, spokesperson for the company, said much of the interest is coming from people who plan to buy for investment purposes.

However, he stated that some enquiries are also coming from people who wish to live in Australia on a permanent basis.

Mr Gibb believes the decline in the South African currency, as well as growing political uncertainty, has fuelled the recent interest in buying abroad.

He commented: "There is a trend that when our rand is trading less favourably against the major currencies, South Africans look to move money offshore.".

Earlier this week, Paul Arthur of The Emigration Group told the Daily Star that Australia has attracted 23,906 expats from the UK in the last year.