With inevitable power shifts in government on the horizon, increased local and foreign long-term investment as well as growing consumer confidence is on the rise. The macro-economic factors of South Africa's economy continue to indicate positive future trends, as seen in the Rand rallying to a two and a half year high recently. The knock-on affects of these cycles will undoubtedly positively influence the local property market, as was confirmed by John Loos, FNB property sector strategist, in FNB's latest property barometer.
It is no secret Cape Town's property market has grown from strength to strength in recent years, proving that areas in this city have high return on investment opportunities as well as a multitude of property investments. Especially in the new developments corner of the market. We have seen significant growth and demand for new development properties in the northern suburbs and this demand continues to increase as more developments are presented to the market.
Taking these factors into consideration the demand for agents specialising in new developments has mirrored that of the market activity.
There are many reasons for this especially because new development units without a living history require a completely different market understanding to that of second-hand residential properties. The tax exemptions on multiple investment purchases, target market demographics, marketing options for developers, client knowledge desire, amount if units etc. are only a few of the different points of departure.
Agents that are able to intently manage a new development by setting a primary focus on these investments ensures that clients partner with their property consultants which is crucial to sustainable goal implementation strategies.
The demand for development specific property specialists was born out of the high demand for these properties in regions like the northern suburbs where immense growth in this sector is underway. The developer requires an agency with agents that are able to target specific identified demographics and present investors with high quality transactions and an insight into the advantages of buying brand new homes.
Long gone are the days where developments are treated the same as any other residential property sale. Technology alone has played a major influence in the marketing of these properties, not only to local buyers and semigrants but foreign investors too. Technology such as drone footage, virtual and augmented reality tours, integrated digital marketing strategies and tech that assists clients such as buyer matches and client logins have catapulted the development property into the stratosphere of property investment activity.
At Harcourts Dunn we've invested in training and technology to ensure a targeted approach with high returns and client satisfaction is key objective. As a leading agency in the northern suburbs of Cape Town with a plethora of developments on our books the decision to strengthen our arsenal with specialist agents was a priority and the success thereof has already come to light.
Harcourts Dunn Principal