SA Property owners eagerly anticipation 2010
Sep 14th, 2007 | 3 Comments »SA Property news: 2010 FIFA World Cup
Owners could raise their rents eight-fold during the tournament
Despite the 2010 FIFA World Cup being about 1000 days away, property owners are already gearing up for the month long event.
“There is no doubt that people will make fair amounts of money,” Michael van der Westhuizen of the Rawson property agency told AFP.
“Many people are buying property with a view to climbing on that bandwagon.”
The upper end of the residential market has already begun to see an increase in demand, as enquiries about rental properties for the World Cup begins trickling in from abroad.
Property experts believe that many people are buying properties with the added aim of renting them out for the World Cup. Property investors could expect to ask up to eight times their normal rent.
Cape Town, with its world-renowned Table Mountain, beautiful beaches, lush winelands and historic Robben Island, is South Africa’s most visited tourist destination and will host one of the World Cup semi-finals in its new 68,000-seater Green Point Stadium.
Nick Ball, owner of upmarket property agency Cape Villas, said property owners in the Cape Town’s upmarket Camps Bay area, expected to be a favoured spot for World Cup visitors, normally got an eight percent rental return on their property value per year that figure is expected to reach 20 percent during the 2010 Soccer World Cup.
December 8th, 2007 at 8:12 pm
What do I do after the 2010 football boom? I will sit with a $20,000 Mortgage payment. I will get a local tenant for $5000 a month and I have to pay the $15000 plus all rates and taxes per month.
Get real. Know what you getting into before you buy.
July 10th, 2008 at 8:31 pm
Estate Agents know very well that this 2010 thing is just a rooster for deceiving the public that things are fine in the real estate business. Actually, nobody real in this real estate business will tell you that right now, Banks are repossessing about 4000 houses per month, and this figure will soon rise, within the next few months, when the noose around the neck gets tangled.
November 5th, 2008 at 3:26 pm
HI there. …..i just want to know what do i need to have to sell your’l a property (house)