djamal-soft
الأربعاء، 2 أبريل 2014
Demand for property to rent is experiencing a high, according to Harcourts S. A. CEO Richard Gray, with entry level property prices of R400,000 being out of the reach of many young pros on the Western Cape.
With middle class consumers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from investors claims Gray. "With rates remaining solidly low, mortgages are extraordinarily cost-effective and landlords who can afford a family home in a good area are finding that they can pay their investment off in 10 to 15 years on a property to hire, in contrast to 20 to 30 years. "
Gray comments that cost is a huge issue, although not the only issue, "Many families with good incomes are in the market for property to rent for many reasons, work mobility is a good reason and also the want to be near a good school is a different reason why folks look for property to rent."
According to Gray, a typical family might have their own rental properties, and elect to hire rather than own their own family home. No matter what the reason that folk are taking a look at property to rent, Gray says that there are is a large demand for property to rent and that many of the tenants are in higher earnings bracket with stable employment.
"Landlords favour a tenant with stable employment and diverse social connections within a community, when it comes to property to rent Harcourts has found that there is only occasionally with renters of middle income family houses. "
Harcourts S. A. offers a full property to lease service, from finding suitable rental properties for speculators and landlords to purchase , matching tenants with the right property to hire, and a full rental service whereby the investors pass over the daily administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where investors are currently buying up property to rent because of the industrial development section (IDZ) at Saldanha being given the green light, "Over the next 20 years it is expected that there will be an influx of young qualified people searching for higher density housing units due to employment opportunities coming from the IDZ. "
Gray says that the existing residential housing stock is also at capacity and there are possibilities for stockholders who are offering property to lease in the way of family property in the proximity of the IDZ,"In the short term quality properties across the sector will experience demand pressure, which is going to have an impact on price," concludes Gray.
With middle class consumers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from investors claims Gray. "With rates remaining solidly low, mortgages are extraordinarily cost-effective and landlords who can afford a family home in a good area are finding that they can pay their investment off in 10 to 15 years on a property to hire, in contrast to 20 to 30 years. "
Gray comments that cost is a huge issue, although not the only issue, "Many families with good incomes are in the market for property to rent for many reasons, work mobility is a good reason and also the want to be near a good school is a different reason why folks look for property to rent."
According to Gray, a typical family might have their own rental properties, and elect to hire rather than own their own family home. No matter what the reason that folk are taking a look at property to rent, Gray says that there are is a large demand for property to rent and that many of the tenants are in higher earnings bracket with stable employment.
"Landlords favour a tenant with stable employment and diverse social connections within a community, when it comes to property to rent Harcourts has found that there is only occasionally with renters of middle income family houses. "
Harcourts S. A. offers a full property to lease service, from finding suitable rental properties for speculators and landlords to purchase , matching tenants with the right property to hire, and a full rental service whereby the investors pass over the daily administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where investors are currently buying up property to rent because of the industrial development section (IDZ) at Saldanha being given the green light, "Over the next 20 years it is expected that there will be an influx of young qualified people searching for higher density housing units due to employment opportunities coming from the IDZ. "
Gray says that the existing residential housing stock is also at capacity and there are possibilities for stockholders who are offering property to lease in the way of family property in the proximity of the IDZ,"In the short term quality properties across the sector will experience demand pressure, which is going to have an impact on price," concludes Gray.
About the Author:
Harcourts S. A. offer property for sale, property to rent,homes for sale, commercial leasing, rural property sales, lifestyle real estate and business for sale right across South Africa.
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