When talking of property for sale on the Cape West Coast, Harcourts Managing Director Richard Gray announces that development of the commercial development zone (IDZ) at Saldanha will have a constructive effect for the local residential market.
"The business stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment caused by the commercial development section, Gray says that finally the regions economics will be underpinned by energy, and this may attract a whole new set of business to the region, all of them employing staff who will be wanting to buy property for sale.
"For the next 20 years or so it can be predicted that the IDZ will be a massive business driver, and the resulting prices received for property for sale will reflect the clamor for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry thanks to a lack in residential housing stock. Investors are asking Harcourts, where they can buy real estate for redevelopment, many investors are looking at property for sale with a view to a buy to let investment opportunity. "
When asked about the kind of homes that may most likely be in demand, Gray says that the start line for many stockholders seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, investors are looking for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for backers and first home purchasers on the Cape West Coast, "Recently the banks have eased their lending conditions when referring to property for sale where a customer has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The first result on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray claims that Harcourts has seen a trend where existing house owners are upgrading to a bigger or better property. "In the short term, the impact on residential property for sale on the Cape West Coast has been a market correction, whereby property owners judge the time is correct to upgrade their home, however we have not seen much activity at the luxury end of the market where activity around property for sale in excess of R20m has remained stable. ".
"The business stimulus from the investment in energy will have a positive effect on property for sale right across the Western Cape, and for Cape Town in particular", asserts Gray. With the mining and energy investment caused by the commercial development section, Gray says that finally the regions economics will be underpinned by energy, and this may attract a whole new set of business to the region, all of them employing staff who will be wanting to buy property for sale.
"For the next 20 years or so it can be predicted that the IDZ will be a massive business driver, and the resulting prices received for property for sale will reflect the clamor for housing from the energy sector. " Gray continues, "Harcourts is fielding enquiries from potential speculators who see that property for sale in the Western Cape is an expansion industry thanks to a lack in residential housing stock. Investors are asking Harcourts, where they can buy real estate for redevelopment, many investors are looking at property for sale with a view to a buy to let investment opportunity. "
When asked about the kind of homes that may most likely be in demand, Gray says that the start line for many stockholders seems higher density housing units, "In expectation of young, skilled workers seeking accommodation, investors are looking for development opportunities where there is property for sale within a commutable distance from industry locations. "
Gray says the banks are on-side for backers and first home purchasers on the Cape West Coast, "Recently the banks have eased their lending conditions when referring to property for sale where a customer has an excellent credit history, and also by allowing lending to a higher share of a property value. "
The first result on property for sale in Western Cape where banks have eased their lending terms has been an increase of activity in medium priced houses, Gray claims that Harcourts has seen a trend where existing house owners are upgrading to a bigger or better property. "In the short term, the impact on residential property for sale on the Cape West Coast has been a market correction, whereby property owners judge the time is correct to upgrade their home, however we have not seen much activity at the luxury end of the market where activity around property for sale in excess of R20m has remained stable. ".
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