This year, enquiries from potential buyers of Constantia homes have been more than double what they were at any stage last year, says Gerald Romanovsky, senior agent at the Rawson Property Group’s Constantia franchise, which is owned and run by Eugene Pienaar.
Romanovsky, who has had 17 years in property selling, said that he had been very surprised by the greatly increased interest, not only for middle level Constantia homes but also for those in the more expensive Upper Constantia area.
“Compared with what we saw last year, this year has been very exciting and very active,” he said.
In Upper Constantia, Romanovsky and his colleagues have, in recent months, sold homes at prices of R6 million, R6,7 million, R5 million (this was for the Botswana Embassy, which is now in private hands) and R7,7 million (for a home with an adjacent plot where sub-division has already been approved).
As yet, said Romanovsky, upper bracket prices have not risen and, therefore, now could be a good time to buy, especially as many sellers are prepared to negotiate.
“The most recent Propstats figures show that Upper Constantia homes for sale were listed at an average of R7,553,000, but achieved an average price of R6,316,000 – a 16% drop. There are, however, clear signs that these big reductions on list prices are unlikely to continue and buyers should, therefore, make a decision within the next six months.”
Demand for homes in Lower Constantia, said Romanovsky, has for some time exceeded the supply and it is these homes which, in the first quarter of this year, at an average price of R5,6 million, formed the bulk of the 69 homes sold in Constantia.
“Any correctly priced home in the R3,5 million to R6 million bracket is usually sold within two to four weeks. Even in Upper Constantia we have had one or two quick sales, including the one mentioned at R6,7 million, which sold before we even had time to place an advertisement.”
One aspect of his operation which is markedly different this year, said Romanovsky, has been the call for valuations.
“This franchise has a particularly good reputation for carefully researched, comprehensive valuations, but this year the new Council valuations seem to be far more acceptable to home owners and therefore the need for our service has been reduced. It has to be said, however, that in at least two cases where Council valuations did not make sense, we have been able to help the home owners to get major re-evaluations.”
For further information contact Gerald Romanovsky on 083 658 0140.
