Atlantic Seaboard offering valuable property lesson
It is difficult times for many people who may be listing property for sale in Vryheid or trying to secure tenants for any of their investments. However, despite the tough conditions, there are lessons that can be learnt from the approach taken in the Atlantic Seaboard in Cape Town.
Whether you are listing your property for sale in Vryheid, or looking to put one of your properties into the rental market, there is a valuable lesson to learn from the Atlantic Seaboard in Cape Town.
The current financial climate in South Africa has made things tough for those entering the property market, for both buyers and sellers. There was the land reform issue to comprehend, the technical recession and higher living costs, all creating a difficult situation in the property market.
With that being said, there is still business to be done though, but if you want to secure steady success, it may be worthwhile checking out the approach being taken on the Atlantic Seaboard in the Western Cape.
The rental market there suffered a bit of a knock for the first time in around 10 years, with more stock becoming available and landlords sitting with vacant properties. This is an odd scenario for this area, as there is high demand due to the quality properties and excellent amenities on offer.
Explaining the approach that landlords have had to take, Lisa Hendricks, rental specialist at Lew Geffen Sotheby’s International Realty, said, “Owners are understandably frustrated that they cannot achieve the same rental prices they did last year, but they are starting to realise that the market isn’t bouncing back overnight and that its far more costly to have an empty property than a good tenant at a slightly lower rental.”
This showcases that working on your pricing can make a major impact, and although it might not offer the returns that you had expected a year ago, it will assist in ensuring that you don’t end up on the losing end with a property that lies dormant for months.
