Cash in on negative sentiment
Taking your time in the market right now in regards to property for sale in the Eastern Cape would not be a smart move, according to property experts. Despite talk of the recession, growth is being predicted in the near future and could see you lose out on a great deal.
The time is right if you want to find property for sale in the Eastern Cape, according to industry experts – this despite all of the talk around the technical recession.
Negative sentiment is around every corner right now after a difficult 2018 which has seen numerous petrol price increase, as well as VAT being increased. Then, to add fuel to the fire, Statistics South Africa revealed in September that the country was in a technical recession after two quarters of negative growth.
However, despite all the negative talk, Berry Everitt, the CEO of Chas Everitt International Property Group, says that investors should beware of all the talk and instead take a careful look at the information that was released.
Yes, the first quarter of 2018 was a difficult one and saw a decline of 2.6% in the economy, however, Everitt says that the 0.7% decline in the second quarter actually showcases that there is positive movement in the economy. And taking this into regards, he feels that investors need to get off the fence quickly and make a move in the market before they end up losing out on the bargains available right now.
“In property as in any other economic sector, following the crowd is a bad idea, because by the time general sentiment turns positive, prices will usually already be moving upwards quite rapidly and much of the opportunity to maximise gains will be lost,” he said.
A turnaround in the market could happen in just a few months according to Everitt, which would mean that the opportunity to strike while the iron is hot would be gone. He also touched on the fact that the foreign investments that were recently secured by the president will start flowing into the country and could stimulate faster growth.
