Find stability in what you know best – the property market.
South Africa has been hit with a national lockdown due to the Covid-19 pandemic and as a result the stock market and various sectors throughout have been left volatile and in a spin. There is one constant that seems to remain steady and that is property.
Those looking to invest or purchase their first home have been given a grace period as property remains strong in the market and building value over time. With the recent interest rate cut, now more than ever, is the time to look towards property as an investment for your future.
The interest rate cut has been the lowest South Africa has seen in many years. While the property market is attractive at this stage it is essential to not lose sight of what makes a good property purchase. By basing your purchase off these fundamentals will automatically set you on a successful property journey.
One of the fundamentals include, considering the location of which your property is positioned. An estate like Ridge Town Central offers more than just being situated within the in-demand Umhlanga area, it is strategically placed close to popular amenities from schools, hospitals, businesses and offices to social hotspots. Between 2009 and 2013, the property value of greater Umhlanga increased by R3,4 billion. Additionally, Private Property statistics over the last 2-years shows the average price increase of 21% in the Umhlanga area. There is no denying that location will play a significant part in the value growth of your property.
Property product offering is also another significant player in the decision making. It is fair to say that estates are outperforming freehold homes and seeing immense value growth. This is in part due to the secure, convenient lifestyles on offer. Ridge Town Central presents 1, 2 and 3-bedroom apartments from R1,35 million. It offers modern designed apartments, with facilities onsite and easy access to amenities within the area.
The current interest rate cut, the location and product offering will play a massive role in making your property purchase a successful one. While the opportunity to purchase now is important to get that foothold on the property ladder at reduced costs, it is vital for your decision to be strategic.