Western Cape Property Opportunities
When talking about property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray announces that development of the commercial development zone (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The economic 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", claims Gray. With the mining and energy investment resulting from the industrial development sector, Gray says that finally the regions economics will be underpinned by energy, and this may 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 next 20 years or so it can be predicted that the IDZ will be a big 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 investors who see that property for sale in the Western Cape is an expansion industry thanks to a shortage in residential housing stock. Financiers are asking Harcourts, where they can acquire property for redevelopment, many backers are looking at property for sale with a view to a BTL investment opportunity. "
When asked questions about the type of housing stock that will most likely be in demand, Gray claims that the starting point for many backers is 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 says that the banks are on-side for investors and first home 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 customer has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The original 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 asserts that Harcourts has seen a trend where existing householders 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 luxury end of the market where activity around property for sale higher than R20m has remained stable. ".
"The economic 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", claims Gray. With the mining and energy investment resulting from the industrial development sector, Gray says that finally the regions economics will be underpinned by energy, and this may 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 next 20 years or so it can be predicted that the IDZ will be a big 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 investors who see that property for sale in the Western Cape is an expansion industry thanks to a shortage in residential housing stock. Financiers are asking Harcourts, where they can acquire property for redevelopment, many backers are looking at property for sale with a view to a BTL investment opportunity. "
When asked questions about the type of housing stock that will most likely be in demand, Gray claims that the starting point for many backers is 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 says that the banks are on-side for investors and first home 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 customer has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The original 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 asserts that Harcourts has seen a trend where existing householders 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 luxury end of the market where activity around property for sale higher than R20m has remained stable. ".
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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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