SELLING YOUR PROPERTY - DON'T GET COLD FEET THIS WINTER
Category News
In the southern suburbs of Cape Town, particularly in Constantia, a mini boom is happening in the property market.
Gregory Kruyer, a property consultant working in the Upper Constantia area from Jawitz Properties, says that although we are moving into the traditionally quieter season, it’s not the best decision for sellers to hold off listing their properties until spring.
“Along with the Cape’s winter comes the perception that house prices may be lower in light of the grim, rainy weather, which results in fewer attendees at show days. This year, however, we strongly encourage sellers to capitalise on the high demand and activity, and stay in the market,” he says.
“We don’t know how long this mini-boom will continue; it could be more of a spike than a lasting trend. A savvy business decision would be to capitalise on the current activity.”
Current sellers, he says, must not lose faith just because it’s cold and wet. “The buyers are there and winter will not be a wash out for those who actively target them.”
“Foreign buyers are very interested in properties in areas like Upper Constantia particularly as the exchange rate is in their favour, enabling them to afford some of the more palatial properties on the market.”
The average price for properties in Upper Constantia is approximately R8.5 million, though there is a wide range of properties that fetch much higher prices than that as well. “We find that properties in the price range of R10 – R11 million move the fastest if they are appropriately structured for families, feature a lovely garden and boast a good living flow,” he adds. “Buyers like the kitchen to lead on to the dining area, offering easy access to a level outdoor entertainment area as well.”
Something old, something new
The area is home to many older properties that have renovation potential, particularly in the price range of R12 – R16 million. “While some buyers opt to knock down a home and start afresh, others just update certain aspects of a property,” adds Francois Venter, Director of Jawitz Properties. “Buyers, however, do need to take caution not to overcapitalise when renovating, and sellers who may be considering updating their homes before selling, should remember this too,” Venter concludes.
Author: Jawitz Website
