Lifestyle changes brought about by the pandemic combined with record-low interest rates are likely to lead towards a host of new investment opportunities developing within the local real estate market. Those hoping to capitalise on such an opportunity ought to heed the advice of real estate experts to make sure they spot opportunities as they arise.
When it comes to maximizing returns on real estate investments, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, says it's all about knowing where and when to purchase, as these factors can make a significant difference in the kinds of returns one can expect to generate.
"The guidance of an industry expert is crucial when making sound real estate investment decisions. Good real estate professionals are well-connected and will know of future development plans in their surrounding suburbs. They are also very aware of real estate prices and will be the first to know if demand for an area is starting to pick up. For these reasons, agents are best equipped to know when a suburb is about to take off and can let investors know when to time the market to maximise their returns," says Goslett.
One such real estate expert is Grant Gavin, Broker/Owner of RE/MAX Panache and well-known guest speaker for real estate industry functions. Below, Gavin lists some tips on how to spot a property market investment opportunity early:
As a final piece of advice, Gavin explains that the pandemic has resulted in demand from people wanting to buy further away from cities. "Many now know that they can work remotely and enjoy the lifestyle elements. We are seeing this on the KZN North Coast, as well as inland in the midlands area. This could be a trend for real estate investors to watch. Investors who want to capitalise on this growing trend should investigate what outlying suburbs offer great lifestyle benefits that could be attractive to buyers who are wanting to escape the hustle and bustle of city living. They could also consult a local real estate expert who can help point them in the right direction," Gavin concludes.
Speak to us at TEAMGavin for property investments in your area today!