The new face of real estate South Africa

The first quarter of 2009 has flow by with massive body blows to the South African real estate industry being absorbed and an industry reeling from the major banks self protection sheilds being put up rapidly in the form of strict lending criteria , 70% loan to value offers. A  virtual U Turn by the major banks on the industry they managed to help burgeon to growth levels that were among the top movers in the world.

With the party over and a sober mood prevailing in the market that is 40% down in volume sales over the past year , this hangover wait and see period heralds major changes . Mass exodus of "real estate professionals" predicted numbers of 70 000+ down to 35 000 registered agents remaining .

Origination companies not being entertained by the major banks , casing further rapid retractions in this end of the market and further casualties.

Signs that the industry has reached rock bottom , interest rate cuts looming ( far too slowly in my opinion) and talks of green shoots showing could mean that our hangover cure may be in sight.

The seasoned professionals who display professional insight may just benefit by the first cold drink of the improving markets , and although another party is not in store , certainly the odd sundowner will be there to be enjoyed in the next few months by those who hang in and gather in the new industry with a very different face to that of a just 18 months ago.

See you at the new gathering and look forward to a cocktail of professionalism , add a twist of innovation , stir in some legislation and top with ongoing education and lets enjoy a sundowner to mark the end of a party and the bennining of a new industry in South africa

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Blogging across continents on real estate

I am looking to interact with real estate investors and business venture capital clients interested in investing in South Africa. We have had imense growth 200-300% in some areas over last 3 years. With the lead up to world cup football here in 2010 this is muted by all economists and real estate gurus to continue upward at a healthy pace.

Investing here for you is a lot easier due to your currency strength and low ineterest rate availability( relative to ours at 12.5% prime)

We currently have over 300 homes listed all along the coast in our network and you can browse through these at www.sellsure.net , and we offer investors premium advice , HomeSafe Home inspections e-mailed on request at $300 per residential inspection. We also have premium development seafront development real estate that can provide excellent returns over the next few years till 2010.

Just as an example ...a huge prime seafront mansion with indoor pool , income generating potential as guest house selling at $ 550 000

Foreign investment in real estate is easy here with a little guidance from Sell Sure and Real Estate Consultants

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Introduction

We have started a process of major revamp of the industry here. I would like to stay abreast of 1st world trends and innovations. Liability increasing and disclosure only really being implemented here . We have a government body called the EAAB ( esate agents affairs board ) and they have suddenly awoken from a 15 year sleep.

I also started a rather pioneering joint venture with a great US company from Oxford M.S. called HomeSafe Home inspections , and we are rolling this concept out as pioneers in our market. The concept is slowly gaining ground.

I look forward to posting some trails and tribulations of this process of reform , and I look forward to interaction and guidance from fellow real estate professionals that are trading under your more regulated and liable markets.

Regards

Kevin Harris