select
|

Fortune will favour the bold, says Aida chief

Although many in the real estate industry are very glad to see the back of 2009 and its economic troubles, the year was appreciated by some as a great opportunity to ditch tired business practices and put some new ones in place in preparation for a better year ahead.
 
“And positive change will no doubt serve those who have had the courage to implement it very well in 2010,” says Young Carr, CEO of the Aida real estate franchising group.
 
The past 12 to 18 months have been good for property consumers, he notes, in the sense that estate agents could no longer take the very casual, easy-come-easy-go approach that was common during the boom years, but had to provide really good service to keep mandates and close deals.
 
“But we think the years ahead, including 2010, are going to be even better from this point of view, because companies like ours have spent the time to also seek out and implement brand new ideas and product offerings that are going to take SA real estate to a new level.”
 
Meanwhile, he says, property investors would also be well-advised to make some bold moves at this time. “The recession is officially over, which means that job opportunities will start to increase this year, salaries will start to rise again and the demand for homes will also go up.
 
“That means, in turn, that the oversupply of stock will be absorbed and price growth will start to gain real traction. At the same time, however, there will still be many who cannot qualify for home finance under the strict new credit law and must therefore rent.
 
“So, especially with interest rates at their current low levels, now is an excellent time for serious real estate investors to re-enter the market. The economists are predicting that property values will rise at least 30 percent over the next three years and between now and then, those who let their investment properties are also likely to achieve very good rental returns.”
 
Indeed, says Carr, Aida agents in many areas are already reporting a significant increase in the number of sales taking place on the back of a surge in confidence that started back in September. “Consequently, we are positive this is going to be a sterling year for real estate.”
 
Issued by Aida National Franchises


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    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