South Africa property news: 600 homes to be auctioned

Over 600 homes will be auctioned at a whopping South Africa property auction to be held next month.

The auction, which will be held by the Alliance Group, will feature a staggering 611 South Africa properties for sale, according to the company’s CEO Rael Levitt.

The South Africa property auction is being held following the collapse of Philken Building Construction, one the largest residential South African property developers on the West Rand and Roodepoort. The firm went into liquidation earlier this year.

Levitt projects that the one day auction will yield the highest value parcel of residential properties to hit the South Africa real estate market at one time.

The 611 South Africa homes are divided between three main property schemes: a 64 unit apartment block in Lakeview in Florida, 40 cluster units in Eagle Falls in Amarosa, Ruimsig and 507 two and three-bedroom sectional title units in Honeydew Gardens in Honeydew.

The South African property auction will take place on 30 October in Sandton.

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