Con­stan­tiaberg prop­erty is still a grow­ing in­vest­ment

Weekend Argus (Saturday Edition) - - PROPERTY -

CAPE-based prop­erty on the whole is not as sen­si­tive to the fluc­tu­a­tions of risk-on risk-off sen­ti­ment as the stock mar­kets, says Mike Gre­eff, chief ex­ec­u­tive of Gre­eff Prop­er­ties, Christie’s In­ter­na­tional Real Es­tates.

“Bricks and mor­tar have always been, and will con­tinue to be a solid and ex­cel­lent longterm in­vest­ment. A prop­erty is a legacy for your chil­dren. It rep­re­sents real wealth. And 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 to ex­ceed cur­rent in­fla­tion fig­ures and also out­per­forms earn­ings on in­vest­ments in many other sec­tors.

“This places prop­er­ties in th­ese sub­urbs in a lead­ing po­si­tion when it comes to grow­ing as­sets. 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 com­pared to the pre­vi­ous 12- month pe­riod, ac­cord­ing to Props­tats.”

He says that the dif­fer­ence be­tween list­ing and sell­ing prices, on average, nar­rowed by 1 per­cent. Prop­er­ties are also spend­ing less time on the mar­ket be­fore be­ing snapped up with average days listed drop­ping from 59 to 45.

“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.

“Sellers of sec­tional- ti­tle apart­ments in the Con­stan­tiaberg area are also achiev­ing their list­ing prices or pretty close to that, with the average dif­fer­ence be­tween list­ing and sell­ing prices be­low 4 per­cent over the past 12 months.

“The average sell­ing price of free-stand­ing homes in Con­stan­tiaberg has in­creased by 10.4 per­cent over the past 12 months com­pared to the pre­ced­ing 12 months. Prop­er­ties are also spend­ing fewer days on the mar­ket be­fore be­ing snapped up,” says Gre­eff.

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