When talking about property for sale on the Cape West Coast, Harcourts Chief Executive Officer Richard Gray says that development of the business development zone (IDZ) at Saldanha will have a good effect for the local residential market.
"The economic 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 industrial development section, Gray says that ultimately the regions economics will be underpinned by energy, and this will 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 next 20 years or so it can be expected 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 backers who see that property for sale in the Western Cape is an expansion industry because of a lack in residential housing stock. Financiers 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 kind of homes that will doubtless be in demand, Gray says the start line for many backers 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 home purchasers on the Cape West Coast, "In recent months the banks have eased their lending conditions when talking of property for sale where a purchaser has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The first 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 house owners 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 luxury end of the market where activity around property for sale north of R20m has remained stable. ".
"The economic 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 industrial development section, Gray says that ultimately the regions economics will be underpinned by energy, and this will 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 next 20 years or so it can be expected 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 backers who see that property for sale in the Western Cape is an expansion industry because of a lack in residential housing stock. Financiers 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 kind of homes that will doubtless be in demand, Gray says the start line for many backers 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 home purchasers on the Cape West Coast, "In recent months the banks have eased their lending conditions when talking of property for sale where a purchaser has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The first 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 house owners 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 luxury end of the market where activity around property for sale north of 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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