Marketing must-knows for selling your home
The importance of a comprehensive marketing strategy when selling a home should never be underestimated, especially in a tougher market, as it can significantly impact the final sale price realised, as well as the length of time it spends on the market.
Barbara Manning, Area Specialist for Lew Geffen Sotheby’s International Realty in Bishopscourt, Upper Claremont and Upper Kenilworth, says not very long ago there were only two ways to search for your dream home - by poring over the property sections of the weekend newspapers or perusing window displays of the local estate agencies.
“But in the past decade a technological evolution avalanche has completely changed how consumers acquire just about everything in their lives, and these days at least 80% of home buyers do extensive online research before making their final purchase.”
How new legislation will affect SA’s property industry
A new set of Bills expected to be passed by Parliament this year will fundamentally impact South Africa’s R6 trillion property industry, seeking to give the public greater avenues for recourse, set stricter guidelines for estate agents and provide for improved transparency.
Greeff Christie’s International Real Estate takes a look at the impact of the bills on the property market:
Property Practitioners Bill
According to the Government Gazette published on 31 May 2018, notice was given by the Department of Human Settlements of its intention to introduce in Parliament the Property Practitioners Bill. The Bill is currently before Parliament.
Savvy investors opting for furnished apartments in prime SA developments
Furnished apartments in high-end developments across the country are on the radar for local and international property investors.
South African property developer, the Amdec Group, has found that residential properties within their major developments - Melrose Arch in Johannesburg, The Yacht Club and the new Harbour Arch in Cape Town - are in great demand from buyers who plan to rent out their units, holding onto ownership as a long-term investment.
Tersia Taljaard, sales consultant for the Amdec Group, says the majority of purchasers within this type of development are investors who are buying to let.
This is how much more buyers are willing to shell out for ‘greener’ homes
The recent drought in Cape Town, the reintroduction of load shedding by Eskom and rapidly escalating costs of electricity and water have made energy and resource efficient homes increasingly appealing to home buyers.
This is according to Pam Golding Properties. In a recent survey conducted among their real estate agents, 70% of respondents estimated that homes with ‘green’ features such as solar, greywater systems, rainwater collection tanks, boreholes and water-wise gardens may command a price premium of approximately 5% to 10% over similar ‘non-green’ homes. The participating agents also said they are experiencing heightened interest from buyers in the green properties of a home.