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THE 2010 Soccer World Cup is drawing closer and the extensive global
exposure of SA is expected to result in an increasing number of visitors
to the country and ultimately a hugely increased investment in property.
“As we start approaching the six-month build-up prior to the World
Cup, it is likely that the hype and enthusiasm generated will have a positive
effect on all segments of the market — supplemented by the favourable
and significant infrastructural spend,” Pam Golding Property group
CE Andrew Golding says.
“The biggest impact of 2010 on the property market in Johannesburg
will be the significant increase in the value added to homes in and around
the huge infrastructural development that is being put in place for the
event,” says PGP’s MD for Gauteng, Ronald Ennik.
The huge R700m urban renewal programme being rolled out in the Ellis
Park precinct and a R170m upgrade of the bordering Hillbrow and Berea
areas are expected to bode well for home values in the area. The developments
are also expected to provide a stimulus for homeowners to upgrade their
homes.
Homes close to or within the high-density nodes that are planned for
the areas around the stations of the R20bn Gautrain rapid rail project
are likely to benefit from added value. The multibillion-rand rapid bus
service will have the same effect on the homes on or near its route.
Laurie Wener, MD for PGP in the Western Cape, says as the new stadium
in Green Point takes shape, including infrastructural improvements such
as a new network of roads, there is no doubt that in the medium to long
term the area will have been substantially improved to the benefit of
local residential properties.
In Durban, PGP area manager Carol Reynolds says the greatest influence
of the event has been regarding the sale of B&Bs and guesthouses,
where there has been a marked increase in inquiries.
In Polokwane, PGP’s Linda de Witt says the World Cup is already
bringing in an unusual number of people to the area, including contractors
working on infrastructural improvements such as roads, and specialists
for the stadium itself. This is creating a huge demand for houses to let.
In Bloemfontein, Hennie Aucamp says 80% of suburbs are within easy reach
of the stadium, and houses in the R700 000 to R850 000 price range are
in high demand, as these properties will earn a good return on investment.
In Nelspruit, Sakkie van Rooyen says while he believes the greatest spin-offs
of the event lie in the hospitality industry, his focus is on the rental
market where homeowners can let their homes out on a daily basis to World
Cup visitors.
Source: Business Day
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Newsletter:
25 May 2012 2012 to 1 June 2012 - Dullstroom, Mpumalanga, South Africa
