“You have to have a really strong stomach and a good amount of financial padding to play money markets and the stock exchange, and not everyone fits that profile,” says Mike Greeff, CEO of Greeff Properties, Christie’s International Real Estates.
“The volatility of this sector has been particularly apparent as we watched the weak Rand do a sudden flip and begin to strengthen within hours of the Brexit announcement and continue to do so over the days following the announcement,” says Greeff. He says that Cape-based property on the whole is not as sensitive to the fluctuations of risk on risk off sentiment. “Bricks and mortar have always been, and will continue to be a solid and excellent long-term investment. A property is a legacy for your children. It represents real wealth,” adds Greeff.
“One of the most reliable areas in which to invest, is the Constantiaberg region,” says Greeff.
“The growth in the average selling price of property across the board in the Constantiaberg region continues not only to exceed current inflation figures but also outperforms earnings on investments in many other sectors,” says Greeff. “This places properties in these suburbs in a leading position when it comes to growing assets,” adds Greeff. “The average selling price of all property types, and all title types, across the board, in the Constantiaberg region over the past 12 months, rose by 9.7 percent when compared to the previous 12-month period, according to Propstats,” says Greeff.
He says that the differential between asking price and selling price, on average, narrowed by 1%. “Properties are also spending less time on the market before being snapped up with average days listed dropping from 59 to 45,” adds Greeff.
“Focusing on various property types, the figures revealed by Propstats indicate that the average selling price of sectional title apartments in Constantiaberg suburbs has grown by 8.2 percent over the past 12 months, and the average number of listing days has dropped from 38 to 22,” reports Greeff. “Sellers of sectional title apartments in the Constantiaberg area are also achieving their asking prices or pretty close to that, with the average differential between asking and selling price below -4% over the past 12 months,” adds Greeff.
“The average selling price of free-standing homes in Constantiaberg has experienced a 10.4% growth over the past 12 months when compared to the average selling price recorded for this sector over the preceding 12 months. Properties are also spending fewer days on the market before being snapped up; the average days listed has dropped from 63 during the July 2014 to July 2015 period to only 49 for the corresponding twelve moths spanning July 2015 to July 2016,” says Greeff.
“The growth in the Constantiaberg property market is due to the high demand for homes with space and gardens suitable for family living. The lifestyle offered by the region is hard to beat with abundant greenbelts, historic wine farms, shopping malls, sporting facilities, hospitals and of course a variety of excellent schools,” says Greeff adding that easy access to major routes, and also to the coastal areas with their beautiful beaches adds to the appeal.