Auction happening this week of 3 super-lux properties at the top of Avenue Marina in Fresnaye (auction alliance).
All were on the market for R17m, which is just plain rediculous!
A little birdie told me that in a closed bid private auction that happened recently the highest bid received was R7m. This is for a super-lux, 4-bed seceure development on the border of Bantry Bay and Fresnaye.
It will be very interesting to see what the prices fetched at auction will be.
Although north of CT in Cederberg, this one is still a laugh. This property (actually its just a cottage on communal land with a R1100 levy per month) has been advertised for a couple of years at R1 630 000. A 32.5% drop in price to R1 100 000 and its still too much.
Hmmm, must be slow around here because everybody is trying to figure out how the suddenly renewed threat of race war would impact their investment portfolios.
Q:Would mass killings in the platteland boost property in the suburbs?
The racial problems will do nothing good for property prices - it will speed up emigration. Before people leave, they will have to sell. An over supply of property and lower demand will kill prices. You need a stable country and stable economy for long term property growth. What is happening in SA right now is scary stuff.
Guys, I'm not denying that the ANCYL and the AWB contain very scary freaks but let's remember that the overwhelming majority of South Africans just want to get on with earning a living.
The AWB is a crackpot fringe group, far smaller even than right-wing parties like the FF-Plus.
The ANCYL seems like a big scary bogey-man but its views are in the minority within the ANC. Given that the ANC as a whole got 12 million votes in 2009, you're not looking at any kind of majority sentiment. In fact the ANCYL's membership is somewhere around 600,000. Within that 600K there are umpteen factions who dare not speak out against Julius but who don't like him or his views. I would be very surprised if Julius's supporters numbered much more than 400,000. That's 0.8 percent of the country's population.
Just remember: the job of politicians is to create exposure for their party and the job of the media is to scare people into buying their products. Don't drink the Kool-Aid.
As for this blog, I think it's quiet because most of us perma-bears are hibernating until there's some sign of a thaw in the property market.
There is really no comment i can make on the developing situation without running the risk of being alarmist. But mark my words: this isn't the last we've heard about this.
6 comments:
Auction happening this week of 3 super-lux properties at the top of Avenue Marina in Fresnaye (auction alliance).
All were on the market for R17m, which is just plain rediculous!
A little birdie told me that in a closed bid private auction that happened recently the highest bid received was R7m. This is for a super-lux, 4-bed seceure development on the border of Bantry Bay and Fresnaye.
It will be very interesting to see what the prices fetched at auction will be.
Although north of CT in Cederberg, this one is still a laugh. This property (actually its just a cottage on communal land with a R1100 levy per month) has been advertised for a couple of years at R1 630 000. A 32.5% drop in price to R1 100 000 and its still too much.
http://capetown.gumtree.co.za/c-Flat-House-Real-Estate-vacant-land-properties-for-sale-A-river-runs-through-it-Our-Ref-MU001-W0QQAdIdZ196643652
*sound of crickets*
Hmmm, must be slow around here because everybody is trying to figure out how the suddenly renewed threat of race war would impact their investment portfolios.
Q:Would mass killings in the platteland boost property in the suburbs?
The racial problems will do nothing good for property prices - it will speed up emigration. Before people leave, they will have to sell. An over supply of property and lower demand will kill prices.
You need a stable country and stable economy for long term property growth. What is happening in SA right now is scary stuff.
Guys, I'm not denying that the ANCYL and the AWB contain very scary freaks but let's remember that the overwhelming majority of South Africans just want to get on with earning a living.
The AWB is a crackpot fringe group, far smaller even than right-wing parties like the FF-Plus.
The ANCYL seems like a big scary bogey-man but its views are in the minority within the ANC. Given that the ANC as a whole got 12 million votes in 2009, you're not looking at any kind of majority sentiment. In fact the ANCYL's membership is somewhere around 600,000. Within that 600K there are umpteen factions who dare not speak out against Julius but who don't like him or his views. I would be very surprised if Julius's supporters numbered much more than 400,000. That's 0.8 percent of the country's population.
Just remember: the job of politicians is to create exposure for their party and the job of the media is to scare people into buying their products. Don't drink the Kool-Aid.
As for this blog, I think it's quiet because most of us perma-bears are hibernating until there's some sign of a thaw in the property market.
@ BC
There is really no comment i can make on the developing situation without running the risk of being alarmist.
But mark my words: this isn't the last we've heard about this.
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