The information in the article is courtesy of Realestateweb (What's in store for property - 2009, 17 November 2008)
Lew Greffen, head of Lew Greffen Sotheby’s, said that this is a great time to buy property in South Africa. This comes after his controversial prediction earlier this year that the property prices will continue falling and that the market has entered a recession.
His views regarding the South African property market in 2009 are plain and simple: Buy now if you can get the money. The agents in the market, according to Greffen, should just hang in there and ride out this “typical cycle” that might last for around 2-3 years. He suggested that there are among the agents, those who might not make it.
Greffen also said that this violent market decline is partially because the market came of such a high, but he explained that there are some positives like the fact that the small amount of stock in the market might stabilise the prices.
Buy property in Cape Town
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
How can an agent survive with no income for 2-3 years? And he is saying hang on? Give them a bigger salary for 2-3 years and tell them to hang on. They made you money the last 8 years.
But back to good news that he forgot to mention...interest rate coming down next year!
I agree with him regarding buying. Now is the time. Go for it! Many bargains out there
Post a Comment