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Western Cape Property Opportunities
When talking about property for sale on the Cape West Coast, Harcourts Chief Executive Officer Richard Gray asserts that development of the business development sector (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The business stimulus from the investment in energy will have a constructive effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment springing from the industrial development section, Gray claims that eventually the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, every one of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be predicted that the IDZ will be a huge industrial 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 backers 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 buy property for redevelopment, many financiers are taking a look at property for sale with a view to a BTL investment opportunity. "
When asked about the sort of houses that will most likely be in demand, Gray claims that the kick off point for many stockholders looks higher density housing units, "In expectation of young, skilled workers seeking accommodation, backers are trying to find development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray claims the banks are on-side for backers and first house purchasers on the Cape West Coast, "Recently the banks have eased their lending conditions when referring to property for sale where a customer has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The first impact 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 householders are upgrading to a bigger or better property. "In the short term, the impact on residential property for sale on the Cape West Coast has been a market correction, whereby householders 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 in excess of R20m has remained stable. ".
"The business stimulus from the investment in energy will have a constructive effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment springing from the industrial development section, Gray claims that eventually the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, every one of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be predicted that the IDZ will be a huge industrial 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 backers 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 buy property for redevelopment, many financiers are taking a look at property for sale with a view to a BTL investment opportunity. "
When asked about the sort of houses that will most likely be in demand, Gray claims that the kick off point for many stockholders looks higher density housing units, "In expectation of young, skilled workers seeking accommodation, backers are trying to find development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray claims the banks are on-side for backers and first house purchasers on the Cape West Coast, "Recently the banks have eased their lending conditions when referring to property for sale where a customer has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The first impact 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 householders are upgrading to a bigger or better property. "In the short term, the impact on residential property for sale on the Cape West Coast has been a market correction, whereby householders 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 in excess of R20m has remained stable. ".
About the Author:
Harcourts S. A. offer property for sale, land and homes up for sale, rentals and commercial leasing, rural property sales, life-style real estate and business across SA.
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