When it comes to property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray announces that development of the business development sector (IDZ) at Saldanha will have a positive effect for the local residential market.
"The industrial 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 resulting from the commercial development sector, Gray claims that ultimately the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, every one of them employing staff who will be needing to buy property for sale.
"For the next 20 years or so it can be anticipated that the IDZ will be a massive economic driver, and the resulting prices received for property for sale will reflect the requirement for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry because of a shortage in residential housing stock. Financiers are asking Harcourts, where they can buy property for redevelopment, many financiers are taking a look at property for sale with a view to a buy-to-let investment opportunity. "
When asked questions about the kind of houses which will potentially be in demand, Gray says the kick off point for many investors seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, stockholders are trying to find development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for investors and first home purchasers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when it comes to property for sale where a purchaser has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The original 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 claims that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the result 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 higher end of the market where activity around property for sale in excess of R20m has remained stable. ".
"The industrial 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 resulting from the commercial development sector, Gray claims that ultimately the regions economics will be underpinned by energy, and this could attract a whole new set of business to the region, every one of them employing staff who will be needing to buy property for sale.
"For the next 20 years or so it can be anticipated that the IDZ will be a massive economic driver, and the resulting prices received for property for sale will reflect the requirement for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry because of a shortage in residential housing stock. Financiers are asking Harcourts, where they can buy property for redevelopment, many financiers are taking a look at property for sale with a view to a buy-to-let investment opportunity. "
When asked questions about the kind of houses which will potentially be in demand, Gray says the kick off point for many investors seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, stockholders are trying to find development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for investors and first home purchasers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when it comes to property for sale where a purchaser has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The original 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 claims that Harcourts has seen a trend where existing home owners are upgrading to a bigger or better property. "In the short term, the result 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 higher end of the market where activity around property for sale in excess of R20m has remained stable. ".
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