If you buying property go where the banks go
Category CEO's Message
Innovating his way up the rungs of the property ladder shaped the career journey of Tyson Properties Managing Director, Chris Tyson, who owes his passion for real estate to his agent mother and builder father.
“I come from a property family, and grew up with property all around me,” says Tyson, who founded Tyson Properties with a vision to create a solid platform for agents to work from, as well as to offer a mutually beneficial arrangement for both the agent and the business owner.
“Our ethos is to provide exceptional service, like better work environments and administrative support, to exceptional agents, which means we attract high-level professionals who perform exceptionally.”
Now is a good time to buy property, says Tyson. He shines the spotlight on areas like the Cape Town City Bowl, Fourways in Johannesburg and in KwaZulu Natal, from Umhlanga to Ballito.
“Property prices have increased marginally over the past year, and we expect them to do the same in 2017, after considerably slow growth in 2016.”
“That said, we do not forecast a price increase of more than 10% in 2017. Naturally, there are areas that have out-performed others, particularly in Cape Town. Buyers must always remember that property is a long-term investment.”
Tyson sheds light on the perception that overseas buyers are dominating the property market along the Atlantic Seaboard. It turns out that less than 2% of all property transactions are recorded for foreign buyers. “Most of the sales are actually to buyers from Johannesburg and Durban.”
Tyson advises buyers to follow the bank’s lending criteria. “The areas in which banks lend more easily are really the hotspots for investment in South Africa. This includes Umhlanga and Ballito in KwaZulu Natal, Cape Town’s Atlantic Seaboard, and upmarket areas, like Bryanston, in Johannesburg.
“If I was buying property in 2017, those are the areas I would look at,” concludes Tyson.
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Author: Tyson Properties
