RUMOURS OF PROPERTY STAGNATION CAST ASIDE

Dylan Burke - IPS

19 May 2008

For many the question hasn’t been if the current South African market conditions have created an effect, it is how bad of an effect has it caused and what are the repercussions. There have been the select few that have had an optimistic and positive outlook on the situation; their questions have been more about what the time period will be before the market rights itself and whether or not market conditions can be used to their advantage.

“I have always maintained that the right priced and right placed development can confidently dispel all fears and concerns over the current situation in the South African property market” says Heath Adamson, MD of International Property Solutions.

Some would say that it was a daring and well calculated development strategy on behalf of the developers, other would say it was the efficient and well placed marketing and sales ability of the team at IPS, in actuality it was the harmonious and strategically orientated partnership between the two that resulted in the record level of 110 units being moved on the launch day, a record level set to drive ambition and growth in the South African property market.

“It was so good to see the renewed vigour and determination in the property investor sector here in the United Kingdom as well as in South Africa, we have always been confident in the property market, I am glad we were given the opportunity to market this development, it awoke the degree of confidence thus lacking in the market” says Scott Picken, CEO of International Property Solutions.

Being surrounded by the Cape Technikon, the city CBD and the Cape Town Harbour, it is no wonder why this well orchestrated 420 unit development has been so popular in the eyes of the investor and owner occupier. The development comprised of 3 variations of unit layout, a studio, 1 bedroom and a 2 bedroom, all with one of 4 predominant views. One of the larger draw cards to the development is the proximity to the nationally renowned Cape Technikon, a university that houses thousands of students every year, a truly transient and ever increasing market, one that would prey on a development of this calibre.

It seems that conditions and predictions can be incorrect or under thought at times, many have predicted doom and gloom as the way forward, but what they neglected to consider was that the market conditions could be beaten by units well priced and well situated, a combination set for success in anyone’s eyes.

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