When talking of property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray asserts that development of the business development zone (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The business stimulus from the investment in energy will have a good 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 zone, Gray says that eventually the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, each one of them employing staff who will be wanting to buy property for sale.
"For the next 20 years or so it can be expected that the IDZ will be a huge business driver, and the resulting prices received for property for sale will reflect the requirement 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 due to a deficit in residential housing stock. Stockholders are asking Harcourts, where they can buy real estate for redevelopment, many backers are having a look at property for sale with a view to a buy to let investment opportunity. "
When asked about the type of houses that will potentially be in demand, Gray claims that the kick off point for many investors 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 claims 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 a good 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 asserts 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 home owners judge the time is correct to upgrade their home, however we have not seen much activity at the upper end of the market where activity around property for sale higher than R20m has remained stable. ".
"The business stimulus from the investment in energy will have a good 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 zone, Gray says that eventually the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, each one of them employing staff who will be wanting to buy property for sale.
"For the next 20 years or so it can be expected that the IDZ will be a huge business driver, and the resulting prices received for property for sale will reflect the requirement 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 due to a deficit in residential housing stock. Stockholders are asking Harcourts, where they can buy real estate for redevelopment, many backers are having a look at property for sale with a view to a buy to let investment opportunity. "
When asked about the type of houses that will potentially be in demand, Gray claims that the kick off point for many investors 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 claims 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 a good 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 asserts 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 home owners judge the time is correct to upgrade their home, however we have not seen much activity at the upper end of the market where activity around property for sale higher than 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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