Claremart

KEEPING YOUR FINGER ON THE PULSE OF THE PROPERTY MARKET

Message from the Claremart Team

LEADING THE INDUSTRY

Claremart’s multiple auction model has become the preferred platform for facilitating property sales across the spectrum of residential, commercial and industrial properties.

In a period of three hours, in excess of 70 properties are presented to an audience of qualified cash buyers, where many properties that have been sitting on the books of estate agents and commercial brokers, are sold at market related prices, often exceeding the mandate price, on a non-suspensive basis much to the delight of the sellers.

“The previous multiple auction had great stock and buyers in the know came out in large numbers to acquire some rarely available properties. Commercial properties were a hot favourite, unlocking highly competitive and compelling bids” said Farrell Perling, Claremart Executive Sales Head.

Blocks of flats in particular, remain in high demand as was evident by the sale of Cecilia Court in Rugby, for R5 686 500 and Fairfield Estate in Parow, for R 5 742 250. Other commercial sales IN MAY included a highly sought after large building in Rosebank, close to the University of Cape Town, which was confirmed at R5 965 250 and a prime location corner building in Wynberg, that was confirmed for R2 230 000 a few days after the auction.

Residential properties also attract huge interest on auction, both for the buy to rent market, as well as for buyers seeking properties of owner occupation. A three-bedroom family home, with good security and prime location in Parklands, recently sold for R1 880 000, while a three-bedroom facebrick home, with separate flatlet, in Glencairn, fetched R 2 397 250. These are just two of a number of properties sold on auction by Claremart over the past few weeks.

”We now have approximately 80 investment properties coming up for auction in June”, adds Zain Amod, general manager for the group, “With sole mandated properties on book now exceeding 150 at any given time.”

“The auction floor continues to unlock value, in record time, to a captive audience of cash buyers, where traditional real estate channels have often failed or where sellers want to achieve an acceptable cash offer in a reasonable time frame without the price restrictions of conventional agents processes. Hence we are seeing an increase in the number of good stock being taken to auction and sold within a few weeks,” concluded Perling.

Don’t miss Claremart’s next multiple auction, at Hellenic Community Centre, 24 Bay Road Mouille Point, on Wednesday 26 June at 12h30 for another superb selection of investment properties, many of which are incredibly hard to come by.  For more information, contact Farrell Perling on farrell@claremart.co.za or 072 040 7274 and visit www.claremart.co.za.

See you on the auction floor!

Team Claremart