Mercedes-Benz Campaign
Engel & Völkers Southern Africa together with Mercedes-Benz has launched a new marketing and branding campaign in March 2009, called the fascination campaign, which will run until August 2009.
April 14, 2009
October 4, 2010
South Africa’s most sought-after city
From www.timeslive.co.za:
Seven of South Africa’s 10 most expensive suburbs are located in Cape Town, which now holds the unofficial title of South Africa’s most sought-after city. Top of the list is Clifton, where R35million sea-facing villas have been demolished to make way for a R100 million mansion. Llandudno is in third place, where the average price for a property is R8,5million. The Cape Town Waterfront recently saw a penthouse apartment sold for R100 million.
Engel & Völkers says:
Cape Town is the continent’s premier property market, and Engel & Völkers makes the most of its international networks to promote the properties its real estate professionals manage. While we have extensive networks in Cape Town, we continue to look for partners in areas like Clifton, Llandudno and other exclusive locations.
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Are you a protected consumer?
From www.iol.co.za:
Estate agents will have to take it upon themselves to ensure that sellers and buyers fully understand the meaning and legal effect of all mandate agreements and contracts that they enter into, once the Consumer Protection Act comes into effect on 25 October 2010.
Engel & Völkers says:
Engel & Völkers real estate professionals regularly attend training programmes to ensure that they are up to date with any changes in the legal environment. They are well versed in the implication of the new Act, and are fully equipped to explain its implications to buyers and sellers.
Stay connected with our monthly “news snippets” from the World Wide Web on www.localguidetorealestate.co.za
July 20, 2010
South African property on the international radar screens
A lot of the talk leading up the Fifa World Cup in South Africa focused on the expected economic benefits, job creation and investment opportunities that were bound to flow as a result. While only time will show the true magnitude of the impact, the overall effect from hosting the tournament will be positive.
The property sector, in particular, is one that was initially touted as one of the beneficiaries of international visitors flocking to the country – most for the first time. Many homeowners eyed the four-week window as a significant opportunity to cash in by letting their houses to foreigners. Others considered this the perfect opportunity to sell their property to Dollar, Euro or Pound-laden visitors who immediately fell in love with the country, its climate and its people.
The reality has been a far more muted affair with significantly fewer visitors turning up than initially expected. Which is not to say South Africa is not a desirable destination, just that the initial euphoria clouded sensibility somewhat. What the Fifa World Cup has done, however, is to heighten awareness and demand for South African properties in the long run.
Craig Hutchison, CEO of Engel & Völkers Southern Africa, points out that while foreign ownership of local properties is not as high as may be expected, it has shown staggering growth over the past five years.
He points to a study conducted last year by property market analysts Lightstone, which showed that only about 35 000 foreigners owned little more than 30 000 properties in 2009, representing about 1.62% of privately held properties valued at R500 000 or more. This is up from only 2000 properties held by foreign investors in 2004.
This seems to be considerably smaller than the level one would expect based on the coverage that foreign ownership gets in the media. There are some shortcomings in the definition of foreign ownership (it excludes ownership of properties through legal entities) however it is unlikely that these would play a significant role in boosting overall foreign ownership numbers.
The study showed that the highest level of penetration in coastal estates (5.85%) followed by coastal sectional title units (3.74%). Lightstone deduces that these properties are mainly for holiday purposes.
The Western Cape boasts the largest number of foreign investors, with about 45% concentration, followed by Gauteng with almost 35%. From here, foreign participation in the property market falls quite significantly to around 10% in KwaZulu-Natal, 5% in the Eastern Cape and less than 1% in Mpumalanga.
“The growth to more than 30 000 international investors in five years is certainly significant,” he says. “The question that remains to be answered is what growth can be expected following the soccer-fed mania that has swept the country and to what extent the foreign visitors will return as investors.
“It would be difficult for them not to realise the potential in the country, which is underscored by the substantial infrastructure investments made by national and provincial government in preparation for the World Cup. This investment has not been restricted to stadia and facilities for the soccer showpiece, so there will be continued and long-term benefits to the country as a whole.”
The exposure that the many thousands of visitors had to the country and the many more millions who watched on television is definitely expected to have an effect on the appeal of the country as a property investment destination.
“There are obvious attractions for international property investors that make it worth their while to buy property in South Africa,” he says. “Aside from the many splendid natural wonders, beauty and excellent climate, currency exchange rates and generally lower interest rates in their home countries make South Africa very appealing.”
He notes that the geographical spread of games around the country will also contribute to visitors experiencing life and opportunities outside the main centres.
“We can’t deny that the World Cup will benefit the country and economy, it is now for professionals in the property industry to make the most of the opportunities this presents.”
August 3, 2009
Engel & Völkers shines in the Southern Suburbs
Engel & Völkers Southern Africa is expanding its scope in the Western Cape with the signing of a license for the Southern Suburbs of Cape Town, including areas such as, Claremont, Kenilworth, Bishopscourt, Rondebosch, Newlands and Constantia. These suburbs not only offer an elevated style of living, they are also home to many embassies, celebrities and international personalities. Upper Claremont and Upper Kenilworth are amongst the oldest suburbs on the southern side of Cape Town, and there are beautiful and stately mansions dating back to the middle 1800′s, with expansive and mature gardens. Jeanne Shimmin, one of the most experienced and successful agents in the area and Phil Thomson, who is also Managing Director of Engel & Völkers South Peninsula, together with 2 successful businessmen, Charles Roberts and John Russell, are the shareholders of Engel & Völkers Southern Suburbs.
“We are very excited about the new E&V shop in the Southern Suburbs of Cape Town, which is situated in the midst of our key market areas, being Bishopscourt and Constantia”, says Jeanne Shimmin. The signature shop, at 53 Constantia Road, opened during May 2009 in the Farriers Courtyard in Constantia, a venue that was tailor-made for the corporate identity of Engel & Völkers – white French doors opening out to a courtyard laid out in the traditional style, with Provence style fountains and landscaped gardens. The venue includes high fashion, a well known Constantia hair salon, exclusive furnishings, and the ever popular “High Tea”.
“With a successful career in the property industry spanning a number of years, I understand the market here,” says Phil Thomson. “I am familiar with the Engel & Völkers brand in South Africa, with its unique signature shop concept and it is ideal for meeting the Southern Suburbs market dynamic. Apart from its well recognised name and outstanding reputation for service excellence, Engel & Völkers offers superb marketing tools such as the glossy international in-house Global Guide magazine and the in-house Local Guide, a publication that is distributed nationally in South Africa and now internationally in an electronic format. These publications offer us a truly international reach, and will appeal to the cosmopolitan nature of the Cape Town southern suburbs society.”
The Southern Suburbs of Cape Town include some of the most sought after areas, for the fashionable elite, in which to live. The well-known wine estates of Groot Constantia, Buitenverwachting, Klein Constantia and Uitsig gave birth to one of the most prestigious suburbs in South Africa, namely Constantia. Bishopscourt is one of the finest of the Cape Town suburbs and was laid out on the grounds of the farm Boschheuwel (Bushy Hill) originally owned by Jan Van Riebeeck. Within a short distance is Kirstenbosch, the world famous National Botanical Gardens of South Africa.
This wind-sheltered, green belt offers history, beauty, a superb infrastructure, private hospitals, golf courses, shopping centres, excellent restaurants, some of the best schools in the country and the University of Cape Town. Some interesting sites include the Irma Stern Museum for art lovers, Mostert’s Mill in Mowbray, Rhode’s Memorial, the Baxter Theatre in Rosebank, the Rugby Museum, and the South African Brewery in Newlands, near the Newlands Stadium, where Cricket and Rugby matches are enjoyed regularly. Kenilworth Race Course is home to important horse racing events, while golf enthusiasts may choose from the best in town, at either Mowbray or Rondebosch golf courses.
Aware that the market has faced some challenges, there are signs of resurgence and the new license partners are confident that there is a demand for Engel & Völkers unique service offering. As a world-class company with over 30 years of real estate experience, Engel & Völkers boasts German precision, South African credibility and an international reach. Engel & Völkers prides itself on its unmatched service, superior industry knowledge and an outstanding reputation for having a finger on the pulse of the market.
“The Southern Suburbs team have already shown a commitment to making Engel & Völkers the first choice of home owners when it comes to buying, selling or letting out their properties. We’re delighted with the opportunities that this established and exclusive area – that’s perhaps resisted price falls and fluctuations better than elsewhere in the country – offers us and our partners as we expand into Southern Africa,” concludes Craig Hutchison, CEO Engel & Völkers Southern Africa.
