Arnold Maritz from Lew Geffen Sotheby’s International Realty gives tips for South Africans looking to invest in property.
According to GlobalData, High-Net-Worth Individuals often invest in real estate, allocating an average of 11.2% of their investments in property – mainly residential property.
“However, if you take the right approach, do your homework and consult with experienced professionals, building a property portfolio can be a very profitable long-term investment.”Maritz said that investors must approach their first endeavour like a business professional, where theyThis allows investors to see the big picture without being sidetracked by more minor issues.
The best property deals do not wait for investors, and having solid finances can put an investor in a stronger position as a serious buyer who can compete quickly., as it essential to know who they are renting to – what’s their lifestyle, do they need parking, what’s their age, what’s their family status, etc.
For sectional title properties, investors should look at the body corporate’s financial standing and the monthly levy amounts – the higher the levy, the lower the investor’s return.. For a successful buy-to-let, the best area has high rental demand and low supply.
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