When talking about property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray announces that development of the industrial development zone (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The industrial stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", says Gray. With the mining and energy investment springing from the industrial development sector, Gray asserts that ultimately the regions economics will be underpinned by energy, and this will attract a totally new set of business to the region, each one of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be anticipated that the IDZ will be a massive economic driver, and the resulting prices received for property for sale will reflect the demand for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry thanks to a lack in residential housing stock. Stockholders are asking Harcourts, where they can acquire property for redevelopment, many financiers are having a look at property for sale with a view to a BTL investment opportunity. "
When questioned about the type of housing stock which will potentially be in demand, Gray claims that the starting point for many backers seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, investors are looking for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for investors and first house purchasers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when it comes to property for sale where a buyer has an excellent credit history, and also by allowing lending to a higher percentage of a property value. "
The initial effect on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray claims that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the result on residential property for sale on the Cape West Coast has been a market correction, whereby property owners judge the time is correct to upgrade their home, however we have not seen much activity at the higher end of the market where activity around property for sale north of R20m has remained stable. ".
"The industrial stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", says Gray. With the mining and energy investment springing from the industrial development sector, Gray asserts that ultimately the regions economics will be underpinned by energy, and this will attract a totally new set of business to the region, each one of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be anticipated that the IDZ will be a massive economic driver, and the resulting prices received for property for sale will reflect the demand for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry thanks to a lack in residential housing stock. Stockholders are asking Harcourts, where they can acquire property for redevelopment, many financiers are having a look at property for sale with a view to a BTL investment opportunity. "
When questioned about the type of housing stock which will potentially be in demand, Gray claims that the starting point for many backers seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, investors are looking for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for investors and first house purchasers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when it comes to property for sale where a buyer has an excellent credit history, and also by allowing lending to a higher percentage of a property value. "
The initial effect on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray claims that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the result on residential property for sale on the Cape West Coast has been a market correction, whereby property owners judge the time is correct to upgrade their home, however we have not seen much activity at the higher end of the market where activity around property for sale north of R20m has remained stable. ".
About the Author:
Harcourts SA offer property for sale, land and homes for sale, rentals and commercial leasing, agricultural property sales, lifestyle real estate and business across S. A..
RSS Feed (xml)
Niciun comentariu:
Trimiteți un comentariu