select
|

Selling your property - don’t get cold feet this winter

In the southern suburbs of Cape Town, particularly in Constantia, a mini boom is happening in the property market.

Gregory Kruyer, a property consultant working in the Upper Constantia area from Jawitz Properties, says that although we are moving into the traditionally quieter season, it’s not the best decision for sellers to hold off listing their properties until spring.


7 Bedroom House for sale in Constantia, Cape Town

“Along with the Cape’s winter comes the perception that house prices may be lower in light of the grim, rainy weather, which results in fewer attendees at show days. This year, however, we strongly encourage sellers to capitalise on the high demand and activity, and stay in the market,” he says.

“We don’t know how long this mini-boom will continue; it could be more of a spike than a lasting trend. A savvy business decision would be to capitalise on the current activity.”

Current sellers, he says, must not lose faith just because it’s cold and wet. “The buyers are there and winter will not be a wash out for those who actively target them.”

“Foreign buyers are very interested in properties in areas like Upper Constantia particularly as the exchange rate is in their favour, enabling them to afford some of the more palatial properties on the market.”

The average price for properties in Upper Constantia is approximately R8.5 million, though there is a wide range of properties that fetch much higher prices than that as well. “We find that properties in the price range of R10 – R11 million move the fastest if they are appropriately structured for families, feature a lovely garden and boast a good living flow,” he adds. “Buyers like the kitchen to lead on to the dining area, offering easy access to a level outdoor entertainment area as well.”

Something old, something new

The area is home to many older properties that have renovation potential, particularly in the price range of R12 – R16 million. “While some buyers opt to knock down a home and start afresh, others just update certain aspects of a property,” adds Francois Venter, Director of Jawitz Properties. “Buyers, however, do need to take caution not to overcapitalise when renovating, and sellers who may be considering updating their homes before selling, should remember this too,” Venter concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 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.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      If you are looking to sell your home this year, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that there are five crucial things to do before the ‘for sale’ sign goes up.
    • 01 Feb 2018
      February is the month of love and to celebrate we will be posting about all the things we love this month. Follow the #MyPropertyLoves hashtag to keep up with our favourite things.
    • 01 Feb 2018
      After saving up and months of searching for the right home, applying for a bond and patiently waiting for the keys to the front door, it is finally time to cross the threshold and move into your new home. Now what?
        
    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