What to expect from KZN’s thriving property market in 2018
Terry Swart, General Manager of Seeff, takes a look back over the property market in KwaZulu-Natal in 2017, and gives an outlook on prospects for 2018.
“The general sentiment in terms of the property market in the KZN region is that there is a softening from a demand point of view, given the general economic conditions,” says Swart.
“However, while our major bond partner ooba reports an approximately 10% decline in the number of bonds granted over the past year, the value of the bonds granted has only decreased by approximately 4% in the same period. This points to a marginally more cautious market.”
What you can expect from SA's property market in 2018
Over the last year, residential property sales have gone from strength to strength in Cape Town and the surrounding areas, a trend that is expected to continue as we head into 2018 according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
“The Mother City has remained highly sought after throughout 2017, which is evidenced by the significant increase in property sales we have seen in the last twelve months,” says Goslett.
“There has been a continued influx of people moving to the Western Cape from many of the inland regions throughout the country. The demand has resulted in property price growth in the Western Cape outstripping other regions of the country - good news for homeowners, but bad news for first-time buyers trying to get their foot in the door.”
Benefits of selling or buying property at an auction
The misconceptions that auctions are reserved for distressed properties or that it is a hunting ground for bargains are steadily being corrected as more and more people opt for the auction floor as opposed to traditional real estate channels.
Jonathan Smiedt, CEO of Claremart Auction Group, says the auction process has seen much success in the property market for many years, and selling on auction can realise more for your asset due to its competitive mechanism. It provides the seller with fair market-related prices and creates opportunities for buyers to acquire property at a price they are comfortable with.
Top tips for long distance home searches
Moving down the road can be a daunting task, never mind across the country. Whether for family reasons or an employment opportunity, it is not uncommon for people to find themselves in a situation where they may have to relocate to another city or town in another region.
While challenging, technology has made the world a smaller place which makes moving across the country - or the world for that matter - far less difficult.
Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, provides a few tips for people looking to find the right property during a long distance search in an unfamiliar market:
1. The internet is a great tool
Around 90% of people will begin their property search online whether buying in the same neighbourhood or on the other side of the country. The reason for this is simple - they can access a massive amount of information within a short time frame from the comfort of their own home.
The top 5 EU residency programmes for South Africans
James Bowling, chief executive officer of residency and citizenship by investment facilitator, Monarch&Co, elaborates on the top five European Union (EU) residency programmes that investors can apply for to hedge their lifestyles abroad.
“This year, we saw interest in EU programmes corresponding with renewed economic confidence across the continent. With the Euro Zone economy growing significantly since 2016, unemployment dropping to single digits and job creation accelerating to a nine-year record at the beginning of 2017, we can expect to see heightened investor interest in the EU next year,” notes Bowling.
What does residency entail and how does it differ from citizenship?