FOREIGN BUYERS IN THE 'POUND' SEAT
Category Advice
In the current lockdown and gradual emergence therefrom, we are all acutely aware that this pandemic affects the world for the first time and not just SA. Perhaps it is therefore not surprising to see that hard currency property buyers, taking a positive view, see this as an opportunity to utilize our weak Rand exchange rate, allied to our distressed economy by making bids for some of our prime properties, particularly residential homes on the Atlantic Seaboard.
Our professional valuers have received several briefs recently to carry out market value analysis research for buyers in the premium price bracket of homes in these areas e.g. Bantry Bay, Clifton and Fresnaye. This follows the European trend where buyers appoint a registered professional valuer to asses a property's value as a check against the marketing price.
If you're looking for a professional valuer's opinion before making an offer on any property type (luxury residential, commercial/industrial, residential investment etc)then please contact our Valuations division on Pauline@steer.co.za or at the office 021 4261026.
Author: John van der Spuy