While much of the property market is languishing in the doldrums, the ERA property group is strategically adding to its office presence.
ERA South Africa CEO Gerhard Kotzé says additions in Alberton, Kuilsriver and Malmesbury, taken together with the group's existing strong base and possible further additions, position the group well for the next upturn in the market which pundits predict could occur next year.
"I agree with the view that the residential property market has the potential to show 60 percent value growth by 2011. The current mood is admittedly gloomy but our market is resilient and history suggests there will indeed be an upswing, the trigger for which will be a combination of factors including, vitally, a drop in interest rates. "
Kotzé adds that ERA is aiming to have the "troops" in place to provide for home buyers and sellers when that occurs, while also still serving the needs of clients in the current market.
"In fact I see current conditions as an ideal opportunity to create an even stronger platform for our offering to the market place and our new offices reflect the quality of professionals who have stayed the pace in what is possibly one of the toughest markets in decades.
"The new ERA Alberton office is headed up by Jacques Louw, ERA Grosch in Kuilsriver is under Roslyn Grosch, and Frans Ellis is the principal at ERA Malmesbury. These are all seasoned property people who understand what it takes to do business even in a challenging market."
Historically, he notes, residential property has continued to outperform all other asset classes as an investment.
"ABSA research provides clear evidence that, over time, returns on investment in residential property are significantly better than from gold, shares and fixed deposits. I remain staunchly optimistic that the market will return to its growth trend line and we want to be in the vanguard of property service providers when that happens."
Issued by ERA South Africa