According to new franchisees Jacques Theron, Elsa Theron and Burgess Patterson, the new franchise (operating from an office in De Waterkant) should improve the level of service offered to customers in the area. 'We will now be able to provide a localised and personal service to clients. The fact that we are closely linked with the Sea Point and City Bowl franchises, ensures that we offer a large buyer and referral network'
The trio decided to purchase a Rawson franchise because of the brands accessibility and broad appeal. They also recognised a growth opportunity in the upper end of the property market.
'We are also experiencing the same stabilising trend that others in the market are seeing, where sellers are becoming more willing to negotiate and are far more realistic with their prices' They say that only serious sellers are currently putting their properties on the markets. 'The rest is waiting to see what effects the rising interest rates and the development of the Green Point Stadium will have on the property in the area'
They added that there is much hype in the area at the moment as a result of the proposed Stadium development. 'This is not sustainable and buyers shouldnt base their investment decisions solely around this event. Although the World Cup might lead to more foreign buyers visiting the country and subsequently buying property, it will not create a new property boom in the city'
The residents of their area are an interesting mix of young and old. 'There are people who have lived in the area for years, but young people are also increasingly moving into the area'
Patterson adds that the time of bargain-hunting in the area is definitely over. 'There is still some opportunity for re-developments or refurbishments, but they do not come cheaply' The average price of a Green Point flat is now around R1,2 - R1,5 million taking all the new exclusive developments into consideration. Houses are averaging R2,6 '“ R2,8 million. 'A bachelor flat in our area costs around R580 000, while houses in Clifton can cost tens of millions'
Beefed-up security in the area as a result of the City Improvement plan has also led to increased interest from buyers in the area. 'Our area is also not as densely populated as some of the other city areas, which also adds to its popularity'
For more information on the new franchise, please contact them at 021-402 8383.
