I recently attended the annual Harcourts Conference, where the prominent Professor, Francois Viruly delivered interesting insights into the future of property for South Africans. Professor Viruly is a Property Economist with twenty years of experience in the analysis of the South African Property market and is currently a lecturer at UCT.
The global and local Real Estate markets are closely associated with the social and economic dynamics of today. Prof. Viruly is of the opinion that urbanization will accelerate due to job availability in the cities, as well as the fact that municipal services in rural towns have virtually collapsed. This will bring about new opportunities to a growing town such as Ballito. With land being a scarce and expensive commodity, owning a house with a yard, will become more and more of a luxury. He expects houses with gardens and garages to make way for high rise sectional title properties. In cities, the luxury of owning a garden and a parking space for a car will come at a very high price.
The current property market is slowly picking up and the time to buy at the ‘bottom end’ of the market is running out. With good opportunities still available, Harcourts Dolphin Coast (032 946 2331) will assist you in finding your Real Estate as described by Lou Scott below:
WHAT IS REAL ESTATE?
“I am the basis of all wealth, the heritage of the wise, the thrifty and the prudent.
I am the poor man’s joy and comfort, the rich man’s prize, the right hand of capital, the silent partner of many thousands of successful men.
I am the solace of the widow, the comfort of old age, the cornerstone of security against misfortune and want. I am handed down to children, through generations, as a thing of greatest worth.
I am the choicest fruit of toil. Credit respects me. Yet I am humble. I stand before every man bidding him know me for what I am and possess me.
I grow and increase in value through countless days. Though I seem dormant, my worth increases, never failing never ceasing, time is my aid and population heaps up my gain. Fire and elements I defy, for they cannot destroy me.
My possessors learn to believe in me; invariable they become envied. While all things wither and decay, I survive. The centuries find me younger, increasing in strength.
The thriftless speak ill of me. The charlatans of finance attack me. I am trustworthy. I am sound. Unfailingly I triumph and detractors are disproved.
Minerals and oils come from me. I am producer of food, the basis for ships and factories, the foundation of banks.
Yet, I am so common that thousands, unthinkingly and unknowingly, pass me by. I am Real Estate.
E mail ida.duplooy@harcourts with your property related questions. I will personally respond after finding you the answers to you questions.