Now is the Time to Invest in Property
The Rawson Property Group is a nationwide brokerage offering committed and professional service. If you want to invest in a property in South Africa, this seems like an excellent time to purchase.
CAPE TOWN, SOUTH AFRICA, March 10, 2010 /24-7PressRelease/ -- Viewing properties in Johannesburg, Table view and Cape Town is a good idea if you want to make an investment as a local or international buyer. Accommodation and property in the Johannesburg and Cape Town city centres is also in huge demand with the imminent approach of the 2010 FIFA World Cup.
There seems to be no better time than now to buy a property in South Africa, according to Bill Rawson, Chairman of Rawson Properties, "There are people in our industry who would claim that, provided you are taking a long term view, there is never a bad time to buy," says Rawson "and by and large I would support that view."
Rawson continues, "there are four factors working in favour of the buyer right now, firstly, sellers have at last become realistic and are accepting lower prices or taking their homes off the market, today's prices are on average 20% down in the metropolitan areas and 50% down in the coastal and country areas compared to the boom period of 2007; values are, however, at last starting to move up. At the moment this is only at a 2% year-on-year rate, but this rate is likely to increase to between 5% and 8% before the end of 2010; the shortages of stock (caused at least partially by a lack of new development) will push prices higher still in the second half of 2010 and 2011."
With regard to properties that are priced well and those that will offer the greatest growth potential, Rawson places Parklands and Table View properties as top draw. If you hadn't considered cultivating a property portfolio before, the other option for first time property investors is to buy a tired home in a sought-after area and give the house the attention and renovation needed. It may take a year of your part-time efforts to reconstruct the home, but the value to be gained could be in the region of R1 million and R2 million depending on the area selected and the value of the property.
Rawson says, "It is tragic to see the prices at which some people have now to sell their homes - but for buyers, of course, this is a bonanza, the like of which will not occur again soon." Asked if and when 2007 prices will return, Rawson says "not for a very long time to come". He continues," As long as the banks have to abide by the National Credit Act criteria, which are still resulting in a 40% rejection rate (as high as 70% in some areas), no boom will materialise."
Rawson's message is clear; it is time to invest in property because the rewards can be staggering. Growing a property portfolio could have many advantages. He explains "The gratification of a quick in-and-out profit after a year or two should be avoided. We had a case in this company where some 40 years ago a magnificent home on one acre with five bedrooms, staff quarters and a swimming pool was sold for R50, 000.Today it is producing a rental income of over R20, 000 per month."
The FIFA World Cup will lead to great international exposure to South Africa and will boost its economy in the future, and this will have a definitive effect on property sales from Nelspruit to East London. If you want to invest in a Johannesburg or Table view property, call the property experts at Rawson today!
Rawson Properties is a nationwide estate agency group. Whether you want to buy or sell a residential property, sell a farm or smallholding, Rawson Properties will assist you with valuable expertise.
Website: http://www.rawson.co.za
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Press Release Contact Information:
Lindsay Wagner
Rawson Property Group
Manager
222 Main Road Rondebosch
Cape Town, Western Cape
South Africa 7700
Voice: +27(0) 21 658 7100
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