When talking of property for sale on the Cape West Coast, Harcourts CEO Richard Gray says that development of the business development area (IDZ) at Saldanha will have a good effect for the local residential market.
"The industrial stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", says Gray. With the mining and energy investment resulting from the economic development section, Gray asserts that finally the regions economics will be underpinned by energy, and this will attract a whole new set of business to the region, all of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be predicted that the IDZ will be a massive industrial driver, and the resulting prices received for property for sale will reflect the demand 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 because of a deficit in residential housing stock. Financiers are asking Harcourts, where they can buy property for redevelopment, many investors are having a look at property for sale with a view to a buy to let investment opportunity. "
When asked about the kind of houses that will most likely be in demand, Gray says the kick off 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 the banks are on-side for backers and first home buyers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when talking of property for sale where a purchaser has a good credit history, and also by allowing lending to a higher share of a property value. "
The initial effect 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 property 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 north of R20m has remained stable. ".
"The industrial stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", says Gray. With the mining and energy investment resulting from the economic development section, Gray asserts that finally the regions economics will be underpinned by energy, and this will attract a whole new set of business to the region, all of them employing staff who will be desiring to buy property for sale.
"For the subsequent 20 years or so it can be predicted that the IDZ will be a massive industrial driver, and the resulting prices received for property for sale will reflect the demand 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 because of a deficit in residential housing stock. Financiers are asking Harcourts, where they can buy property for redevelopment, many investors are having a look at property for sale with a view to a buy to let investment opportunity. "
When asked about the kind of houses that will most likely be in demand, Gray says the kick off 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 the banks are on-side for backers and first home buyers on the Cape West Coast, "In the last few months the banks have eased their lending conditions when talking of property for sale where a purchaser has a good credit history, and also by allowing lending to a higher share of a property value. "
The initial effect 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 property 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 north of R20m has remained stable. ".
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Harcourts South Africa offer property for sale, land and houses on sale, rentals and commercial leasing, rustic property sales, way of living real estate and business across South Africa.