Edward Faro and Elizabeth Thys have been working as estate agents for the last five months and according to the them, there is a great need for information about property investment in the area, with many people moving to a city area for the first time and also quite a few first-time buyers. 'Our clients expect a complete information service, as they would like to learn more about the residential property market. There is a large amount of property enquiries and we always try to give the public useful advice and guidance'
Faro and Thys say that many of their clients feel intimidated by estate agents. 'As a result of the fact that many of them have not been extremely active in the property market so far (many inherited their properties), not all of them have an appreciation for the investment value of property and they also dont understand how property financing works' However, they find that there are many residents who want valuations on their properties done so that they can see what the market value is thereof.
Property prices in the area vary between R200 000 and R750 000, which also makes it a popular choice for property investors. Properties are still very affordable and the rental income that can be earned on the property is still high.
'The property market in our area has become very active over the past year. Now that the market is starting to grow, our clients are selling property at a very rapid pace' As a result of the growing market, prices are also rising. This means that many people cannot afford to enter the property market anymore. 'Many of our clients are having problems to obtain financing '“ there are however banks that see the need and is willing to help'
Edward Faro and Elizabeth Thys from the Rawson Properties Stellenbosch office is a successful partnership operating in the emerging property market around Stellenbosch.
