Clarifying land expropriation concerns
If the land expropriation issue is preventing you from looking at property for sale in Pinetown, or anywhere else in South Africa, then it is about time that you fully get to understand the situation. Clarity has been provided and it is still safe for you to enter the market.
One of the major concerns playing on the mind of people selling or buying property for sale in Pinetown and around South Africa is the land expropriation issue.
Of course, this is not the only issue, and as pointed out by Samuel Seeff, the Chairman of the Seeff Property Group, the technical recession and some other global factors have also had an impact in creating a bit of a downward trend in the market.
However, land expropriation remains a concern for the mass public in the market, and it has niggled for longer than expected. This is largely due to the fact that too many people are being exposed to misinformation and a whole lot of other noise around the issue.
Much earlier this year, President Ramaphosa clarified matters in parliament and this calmed tensions amongst many of the experts and those close to the industry as it brought about clarity on the issue. Since then, he has also met with agricultural bodies, stakeholders and even the likes of the UK Prime Minister and Chinese President.
All of this further clarified the issue but the mass market remains hesitant and concerned. It is important to look at the facts though, and not the rumours. Your property rights will be protected and no illegal land grabbing will be tolerated in South Africa. Land expropriation will also not be done on a wide-scale, which means that property investment remains a viable option. There was even clarity for international buyers in that they will be allowed to own residential property in the country and should not fear making investments.
All of the negative talk and factors can certainly change your outlook on the market, but also remember that this is not even the worse situation the market has been in over the last 15 years. The Global Financial Crisis in 2008 brought about more difficult circumstances.
If you are looking at entering the market currently, the best advice is to remain realistic. Sellers should understand that getting maximum prices may be difficult as buyers are looking for good value for their spend. However, at the same time, buyers cannot expect to find excellent properties at rock bottom prices just because the market is a little flat at present.
