Atlantic Seaboard sales continue to buck the trends
Category Property News
Atlantic Seaboard buyers and sellers are as good as their real estate professionals. If the sale of Enigma Mansion in Camps Bay, currently on the market for R 300 million, reaches conclusion anywhere near the asking price, it will be a historic first for the industry. What drives whopping Atlantic Seaboard sales of this nature are teams of highly skilled and energetic real estate specialists. Working behind the scenes, in all market conditions, themselves residents of this sought-after area, they hold a close appreciation of their affluent clientele. Repeat business is another contributing factor to the success of area specialists, who over time can sell the same property up to four and five times over. DG says: "An example is an old house in Nettleton Road, Clifton that was sold for R 18 million in 2006, resold for R 32 million in 2008, then resold for R 37 million in 2010 and is now on the market once again for R 55 million." Although properties are subject to individual merit based on location and build, and few repeat performances of boom times, this effectively illustrates a capital appreciation of 205% over six years. DG Properties stated their team achieved another record price earlier this month, with the sale of a R65 million Stefan Antoni designed home on the slopes of Lion's Head. The rental department of DG Properties is also experiencing record rentals including the recent lease of a four bedroom seafront apartment for R 140 000.00/ month.
Author: Business Day Homefront