When talking about property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray announces that development of the commercial development sector (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The business stimulus from the investment in energy will have a good effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment springing from the economic development sector, Gray asserts that ultimately the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, each one of them employing staff who will be needing to buy property for sale.
"For the following 20 years or so it can be anticipated that the IDZ will be a big business driver, and the resulting prices received for property for sale will reflect the clamor for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential backers who see that property for sale in the Western Cape is an expansion industry due to a shortage in residential housing stock. Financiers are asking Harcourts, where they can buy real estate for redevelopment, many investors are looking at property for sale with a view to a BTL investment opportunity. "
When questioned about the kind of houses that will doubtless be in demand, Gray says that the starting point for many backers is higher density housing units, "In expectation of young, skilled workers seeking accommodation, stockholders are looking out for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says that the banks are on-side for backers and first home buyers on the Cape West Coast, "In recent months the banks have eased their lending conditions when referring to property for sale where a customer has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The initial result on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray asserts that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the effect on residential property for sale on the Cape West Coast has been a market correction, whereby home owners judge the time is correct to upgrade their home, however we have not seen much activity at the luxury end of the market where activity around property for sale in excess of R20m has remained stable. ".
"The business stimulus from the investment in energy will have a good effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment springing from the economic development sector, Gray asserts that ultimately the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, each one of them employing staff who will be needing to buy property for sale.
"For the following 20 years or so it can be anticipated that the IDZ will be a big business driver, and the resulting prices received for property for sale will reflect the clamor for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential backers who see that property for sale in the Western Cape is an expansion industry due to a shortage in residential housing stock. Financiers are asking Harcourts, where they can buy real estate for redevelopment, many investors are looking at property for sale with a view to a BTL investment opportunity. "
When questioned about the kind of houses that will doubtless be in demand, Gray says that the starting point for many backers is higher density housing units, "In expectation of young, skilled workers seeking accommodation, stockholders are looking out for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says that the banks are on-side for backers and first home buyers on the Cape West Coast, "In recent months the banks have eased their lending conditions when referring to property for sale where a customer has a great credit history, and also by allowing lending to a higher percentage of a property value. "
The initial result on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray asserts that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the effect on residential property for sale on the Cape West Coast has been a market correction, whereby home owners judge the time is correct to upgrade their home, however we have not seen much activity at the luxury end of the market where activity around property for sale in excess of R20m has remained stable. ".
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