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
Characters remaining

    Latest Property News
    • 20 Mar 2018
      Located close to the fast growing Fourways precinct, Dainfern continues to attract local and international interest from buyers seeking a secure lifestyle with affordable entry price of approximately R3 million.
    • 20 Mar 2018
      Property owners in the Durban CBD are addressing the affordability challenge that faces many prospective tenants in their area – and reconfiguring the inner city rental market in the process.
    • 20 Mar 2018
      One of the most misunderstood concepts in the process of selling a property is an exclusive or sole mandate.
    • 19 Mar 2018
      If a landlord opts to use a managing agent for the rental of his or her property, the inspection process can be easier as the agent is not emotionally involved and will certainly have concluded an in-depth inspection report in the interests of all parties.
    • 19 Mar 2018
      We all wish we could have the cheat sheet for selling a property – a simple Ctrl+Shift+C code that will magically secure an offer on your home in an instant. Though it is not possible to provide you with this cheat code (sadly, reality does not come with such perks), it is possible to provide you with a list of the most common blunders some of your neighbours have committed in their efforts to sell their homes
    • 19 Mar 2018
      Although property technology is now widely accepted as an established trend, especially in the international real estate arena, the industry has been cautious to advance and smaller markets like South Africa are still hesitantly dipping their toes in the water.
    • 16 Mar 2018
      Strange as it may seem, there is a stock shortage looming now in the luxury sector of the Johannesburg property market, because astute buyers have for the past few months been hurrying to snap up high-end homes being offered at excellent prices.
    • 16 Mar 2018
      No one likes having to claim but having insurance for your household contents is vital, and at the start of a new financial year, homeowners either applying for new household insurance or revising their existing insurance should take a comprehensive inventory of their possessions and keep track of the total value.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us