Quick, find a farm in town
Among the best property investment buys in SA at the moment must be a large stand capable of sub-division in an established suburb - with or without a house on it.
So says Berry Everitt, MD of the Chas Everitt International property group, who notes that the demand for such properties is bound to rise as the wealthy baby-boom generation ages and turns to in-town cluster living for convenience as well as security.
"And it is likely to be further boosted by city densification policies and steep increases in property rates and municipal service charges, as well as fuel price hikes."
Writing in the Property Signposts newsletter, Everitt says there is already
a very strong swing towards the better use of land and existing resources for
environmental reasons, "and SA cities are starting to come in line with
other major centres around the world, where it is unheard of for anyone
except multi-millionaires to live on an acre or even half an acre of land".
Meanwhile, developers are finding that baby-boomers who have decided to downsize
for whatever reason are generally not willing to compromise on their quality
of life, or on value growth, in the search for more compact, more manageable
properties. They still want upmarket properties, and many
still want to live in the affluent central suburbs with which they are most
familiar.
"For investors, this means that there will be good returns to be made on purchases of large properties in such areas that can be subdivided for the development of exclusive cluster villages of three or four homes."
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com