Quarter one is done and dusted and we are continuing to see growth in the property sector. Despite challenging economic times, people are still investing into property, whether residential or commercial.
We have seen that buyers are sometimes holding out and hedging their bets rather carefully before raising their hands to up their bids. However, where bids have closed on properties and the offers have not been accepted by sellers, we have found that buyers are prepared to dig deeper, particularly when they badly want to obtain ownership of a specific property.
We look forward to another bumper month of properties being sold at both our on-site and at the multiple auction, which as of 24 April, will be held at our new venue, Hellenic Community Centre, in Mouille Point. We believe that this venue will be highly suitable, and has ample free parking available.
Last month we mentioned the importance of environmentally sustainable homes and the trend toward finding properties that already meet all those requirements. On 9 April the hammer will fall on a Sunningdale family home that comes complete with Jojo tank and solar heating system. So if you’re in the market for an environmentally friendly home, this may be the one for you.
The Atlantic Seaboard remains a highly sought after area for both commercial and residential property, and we are very excited about a massive redevelopment opportunity right in the heart of Sea Point, with and endless array of options for the right visionary.
Office space in the City Bowl still remains very popular, and if your business is ready to take the next step and buy a property, we have a spectacular office space on the block in Gardens, amid trendy amenities, suitable for a range of businesses.
Several properties have sold in recent weeks, some even before they’ve hit the auction floor. In an unpredictable market, one is sometimes conflicted between taking a slightly lesser offer, or holding out for a few months to see whether the market turns upward. This is tough call, and we are currently seeing more people taking the offers than holding out for improved conditions, which may or may not materialise in the immediate future.
In Baronetcy Estate Plattekloof we sold a magnificent property for just under R10m, while a tenanted block of flats in Goodwood sold for over R7m and a factory in Somerset West fetched over R6m.
Just a reminder, that out next multiple auction, takes place at our new venue, Hellenic Community Centre on Wednesday 24 April, and is packed with an incredible selection of properties for every budget. If you’ve never considered the auction floor, we invite you to attend one of our many auctions every month and let us find the right property solution for you.
See you on the auction floor.