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Press Release - October 2009Pick and choose Margate property Holiday properties in Margate on KwaZulu-Natal’s popular South Coast are once again drawing buyers thanks to high availability and discounted prices. Top agent, Dale Terblanche, who recently joined the new Chas Everitt International agency in the South Coast Town, says some properties are now available at up to 30% cheaper than at the height of the recent property boom. “In fact, the market has been flooded with holiday units as investors who over-extended themselves are struggling to service bonds and are off-loading their portfolios – meaning buyers can now pick and choose among a wide range of properties at favourable prices,” she says. “There are many bargain hunters in the market right now and many are offering cash. Some buyers are, however, trying their luck by offering ridiculously low prices. While most keen sellers are amenable to negotiate on price, they are aware of what the market will bear and reject unreasonable offers. “In the short time since we have opened our doors we have seen a marked increase in demand for local properties. About 80% of our buyers vet properties by viewing them on our website and some properties are viewed by up to 250 interested parties. “We expect the volumes to increase towards the end of the year – traditionally a popular time to view or buy holiday property – thanks to lower interest rates and encouraging signs of a recovery in the economy as a whole,” she says. Prices for holiday units in Margate start at around R800 000, which will buy a townhouse with two or three bedrooms and inland views. Similar properties with sea views are offered from R1,3m while top of the range apartments sell at around R4m. The biggest demand is currently for properties under R2m, Terblanche says. Issued by Chas Everitt Margate |
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