Asking prices are decreasing in
Current real growth in house prices across
“Plett fared surprisingly well last year, but there is a definite downward swing this year. The total value of transfers registered this year decreased by 25% mainly off the back of decreased volumes of sales, although it is still too early to be sure of a recessionary market,” says Hein Pretorius, principal of Lew Geffen Sotheby’s
“A good example of this dramatic decrease in asking price is a luxury property in The Tides development, a prestigious gated community on the Keurbooms Lagoon. Here the asking price was initially R7m but the seller in desperation, is now accepting offers from R4 million - you couldn’t build a house of this quality for this price.
“It is taking time, but serious sellers are realising the importance of the correct pricing and marketing in this difficult market,” says Pretorius.
For more information, contact Hein Pretorius on 083-701-3159.