Mzansi Afrika

From Johannesburg South Africa, a window on the world

Wednesday, November 17, 2004

SA Property Prices

Today’s Business Day reports that property prices at the high end of the market in the Cape have peaked. That’s according to figures released by Sotheby’s International Realty. October sales figures for the Atlantic seaboard demonstrated that sales volumes were sharply lower in Clifton, Camps Bay and Seapoint compared to the same time the previous year.

“Apartment , sales declined 24% and house sales fell 22% year-on-year, although the average value of the deals closed was 38% higher than at the same time last year” – but – “In October, Seapoint had 37 sales, which in value terms increased 103% - but last year this time 10% more properties were sold in the area.”

Barak Geffen, Sotheby’s executive director, said that he did not believe this was the long-awaited busting of the property bubble, but more a case of rust than bust. He added that some areas like Bloubergstrand were still booming.

Moving to Johannesburg, the high end of the property market is not following the same trend as Cape Town. Middle class suburbs that were traditionally white are now being buoyed by the “transformation effect”. Between 10% and 15% of properties sold by Sotheby’s in these areas are bought by Black professionals.

1 Comments:

At 10:48 AM, Anonymous Anonymous said...

I bought a house.the process was done and the house was registered in my name.The bank that financed me has never went to the house to evaluate the house.There are people in that house who claim to be the owners of the house and they say they never have a proble with the house and they will not move out.What other people told me including Katleong police"The community there does not want people to move out in the house,if you insist to move in they beat you and they kill you.Can you please help me talk to the bank to cancel the bond on my name as I will be blacklisted because as from last month I did not pay the bond because I dont have money to pay.Where I stay I am paying the rent and I have some of the things that I am paying.I dont want that house any more because "I WILL NOT BE SAFE I CAN DIE AND MY FAMILY DIE ANYTIME IF INSIST BY LAW TO STAY THERE.My number is 082 761 3340/ 011 726 3138.The bank that financed me is Nedbank.My ID number is 8305245521088.

Yours truly
Ntsikelelo Makaka

 

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