Weekend Argus (Saturday Edition)
Constantiaberg property is still a growing investment
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.