In2assets Blog: Residential property trends

Despite increasing interest rates, electricity and water constrains and a high level of crime, the demand for affordable residential property is still strong, says Rainer Stenzhorn of In2assets, the well-known property company in Durban.

Hillcrest was formerly a sleepy village, governed by its own Town Board on the outskirts of Durban.

The average cost of new housing built increased by 6.9% year-on-year (y/y) to an average of R6 517 per square meter in the first nine months of the year compared with R6 094 per square meter in the corresponding period last year.

Often when I write about properties I tend to focus my enthusiasm on properties that are of grandiose status. There may be that big bulky warehouse next to the harbour or that never-ending shopping mall bustling with consumers and choirs of ringing till points. The motivation is mostly the value of these properties and a chase for financial result. Today I am dedicating my efforts on a property with a deeply personal sense.

Haggling over the purchase price is no different to the auction model