select
|

Great time to buy a Margate property

Holiday properties in Margate on KwaZulu-Natal’s popular South Coast are once again drawing buyers, thanks to high availability and discounted prices.
 
Top local gent Dale Terblanche, who recently joined the new Chas Everitt International agency in Margate, says some properties are now as much as 30% cheaper than at the height of the recent property boom.
 
“In fact, the market has been flooded with holiday units as investors who over-extended themselves during the boom try to downsize their portfolios – and buyers can now pick and choose among a wide range of properties at very favourable prices,” she says.
 
“And in response, bargain hunters are coming into the market now, many of them with cash to spend. They should be aware, however, that while most keen sellers are amenable to negotiating on price, they are still rejecting unreasonable offers.”
 
In the short time since the new agency opened, she says, there has been marked increase in demand for local properties. “About 80% of our buyers vet properties by viewing them on our website and some properties are viewed by up to 250 interested parties.
 
“And we expect the volumes to increase towards the end of the year – traditionally a popular time to view or buy holiday property – thanks to lower interest rates and encouraging signs of a recovery in the economy as a whole.”
 
Prices for holiday units in Margate start at around R800 000, which will buy a townhouse with two or three bedrooms and inland views. Similar properties with sea views are being offered from R1,3m, while top of the range apartments sell at around R4m. The biggest demand currently is for properties under R2m, Terblanche says.
 
Issued by Chas Everitt International


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK