KEEPING YOUR FINGER ON THE PULSE OF THE PROPERTY MARKET

Message from the Auctioneers

LEADING THE INDUSTRY

Autumn has brought with it the hope of winter rains to the Western Cape and the dryer regions across the country.

While we are all looking heavenwards for water, it is worth remembering that we have to continually find ways to save water going forward to manage the demand side even if the supply is of concern.

Claremart have seen an increase in demand for properties, both residential and commercial, which already meet the low water usage requirements, and especially those which can function “off the grid” which offer the owner not only water savings but also a low footprint lifestyle with regards to environmental impact.

The demand in the Western Cape has not slowed noticeably as a result of the drought, with the same high demand for almost every area in the region. Our experience in Gauteng is not dissimilar with the demand for residential and commercial property still strong, albeit not at the levels of growth seen in the Western Cape.

With the economic outlook already improving and with many analysts taking an optimistic view of the near and mid-term economic future, property investment will continue to offer the excellent security and returns it has for years, in particular short term lettable residential property in which we see a major increase in demand, in particular with Airbnb and short term letting as a viable option.

An example was the sale of a Clifton bungalow, on behalf of the City of Cape Town, which was sold at a price of R20 million plus VAT, something the previous owners could not obtain through private treaty agent marketing.

Claremart continue to service this and other markets with properties which can only be purchased at auction, and where sellers continue to enjoy the benefits of achieving their price on a cash sale basis, something no other sales method can offer.

Some recent auction highlights include 14 Flamingo Crescent, Nerissa Estate which was sold for R7 352 400, Unit 87 Son Vida in Green Point sold for R2 899 000, and the sale of 38, 40 & 42 Picton Street, Parow for R2 283 700.

A spectacular 356 hectare farmland property, including two smaller adjacent farm portions will be a particular highlight of the ClareMart auction to be held in Cape Town on Wednesday 30 May 2018. Known as The Hilltop, the estate is one of the last substantial portions of land available within Plettenberg Bay’s urban edge that boasts unending views over the famously gorgeous bay, Beacon Isle and the evocative Robberg Peninsula.

Auctions remain the go-to method of sale for banks, liquidators, executors and other institutional sellers of fixed and movable assets. The private seller will do well to consider it as first option if they are genuine sellers.

See you on the auction floor.

Andrew Koch & MC du Toit
Auctioneers