When it comes to property for sale on the Cape West Coast, Harcourts CEO Richard Gray says that development of the business development sector (IDZ) at Saldanha will have a good 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", claims Gray. With the mining and energy investment springing from the economic development section, 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, all of them employing staff who will be needing to buy property for sale.
"For the next 20 years or so it can be expected that the IDZ will be a big 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 investors who see that property for sale in the Western Cape is an expansion industry thanks to a deficit in residential housing stock. Financiers are asking Harcourts, where they can buy real estate for redevelopment, many backers are looking at property for sale with a view to a buy-to-let investment opportunity. "
When questioned about the sort of houses that will potentially be in demand, Gray says the kick off point for many stockholders is higher density housing units, "In expectation of young, skilled workers seeking accommodation, backers are looking for 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, "Recently the banks have eased their lending conditions when it comes to property for sale where a customer has a good credit history, and also by allowing lending to a higher share of a property value. "
The original result 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 says that Harcourts has seen a trend where existing householders are upgrading to a bigger or better property. "In the short term, the effect 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 north 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", claims Gray. With the mining and energy investment springing from the economic development section, 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, all of them employing staff who will be needing to buy property for sale.
"For the next 20 years or so it can be expected that the IDZ will be a big 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 investors who see that property for sale in the Western Cape is an expansion industry thanks to a deficit in residential housing stock. Financiers are asking Harcourts, where they can buy real estate for redevelopment, many backers are looking at property for sale with a view to a buy-to-let investment opportunity. "
When questioned about the sort of houses that will potentially be in demand, Gray says the kick off point for many stockholders is higher density housing units, "In expectation of young, skilled workers seeking accommodation, backers are looking for 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, "Recently the banks have eased their lending conditions when it comes to property for sale where a customer has a good credit history, and also by allowing lending to a higher share of a property value. "
The original result 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 says that Harcourts has seen a trend where existing householders are upgrading to a bigger or better property. "In the short term, the effect 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 north of R20m has remained stable. ".
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Harcourts South Africa offer property for sale, land and houses on sale, rentals and commercial leasing, rustic property sales, way of living real estate and business across South Africa.
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