Opportunity knocks at property auctions
● With residential property prices in most sectors of the market effectively on hold, auctions offer a real opportunity for investors to unlock value in a short space of time.
Analysis of the market shows that growth rates for the past few years have seldom topped the 5% per annum mark, which barely competes with other types of investment.
Yet auctions give buyers the opportunity to bid on properties at less inflated rates and occasionally pick up bargains that can be cleaned, painted and flipped quickly for a handsome profit.
Park Village Auctions’ Roy Lazarus says other properties may prove to be dream homes for buyers who want to add TLC and make the house their home.
“More people make more money at our property auctions than almost anywhere else on the open market, which means it pays to be a part of our auction community. Keep a watch on the news and stay abreast of regular property auctions if you are in the market, is my advice,” Lazarus says.
One of Park Village Auctions’ most recent sales included a stately mansion in Chartwell, Johannesburg, for an incredible R6.944m plus commission.
For all auction-related information, contact Park Village Auctions.