Making a property investment is serious business. Your success of your investment decision depends on how much accurate information at your disposal. In this article, I look at some the basic questions that needs attention.
Are you currently considering investing into properties in the South African market? Are you wondering where to start or the right company with the in-depth knowledge to assist you make the correct decision?
It is very crucial to understand what you are getting into when it comes to the real estate industry. The industry has come under a bit of pressure in recent past so investors all over the world are generally cautious when making investment decisions.
Even if things look like it is improving, it is still very important to do your analysis very well and consider the long term prospects. In doing so, it is also important to consider the input of property specialist in your area of interest. Consider these questions for a start:
· Are you interested in commercial properties or residential properties and what are the prospects?
· Which locations are you considering and will that location be within your region, country or outside of your country?
· What are the current economic trends in that region, country or international territory? There various reports available to help you make assessments country by country or region by region.
Answering some of these basic, yet crucial questions will go a long way in helping you have first-hand understanding of what lies ahead. If you are investing in your own country and have some level of experience in real estate investment, then you will be skilled enough to know where the challenges and opportunities. The same cannot be said of the first time investor. It can be daunting for him or her.
The answer lies in seeking information. The accuracy and timeliness of such information is crucial to the success of your decision. Not having investment experience in the area or location of interest can be a liability. That is why you need the help of consultants if you are serious about making the best out your investment.
There are so many things a consultant can help you understand. One of those things includes the real estate tax regime of that particular country, that is, if you are considering investment in another country. While some countries are flexible in this respect, others have very stringent regimes. Please make sure that you understand this as much as possible.
A recent report in March 2013 about the South African commercial property industry is showing strong growth. Confidence level among investors, economists and analysts is growing as the property sees a 15.2% growth in 2012. Already there are expectations of a 7% growth in transaction volume worth 310 billion dollars. This figure is projected to grow to 360 billion dollars by 2015.
In all of this good news, commercial office properties in the eastern suburbs of Pretoria have received a lot of interest from investors. Some of the areas in picture include Brooklyn, Lynnwood, Centurion, Hatfield and Highveld.
Various reasons account for this. These areas have great infrastructure, better security, good mix of residential and commercial property, better pricing and a good return on investment as a result of the location. For example, a nice office space in Brooklyn is likely to cost from R120 to R165 per square meter.
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