2009/02/12

The lowering of interest rates is likely to increase the demand for property and consequently give the property market a much-needed boost.

Experts have predicted the recovery of the property market to take place in the latter half of 2009. For those who want to take advantage of the upturn, it is essential to be prepared.

Mark Taylor, chairman of KZN developer the eLan Group says "start doing your homework now".

"Look at your options, work out what you can comfortably afford".

For the investor, it's all about the ability to buy and hold on to your property while interest rates are still high and property prices low.

"South African property is relatively undervalued by international standards and still offers exceptional value for money."

Due to a surge in foreign property investment, the expectation for the 2010 FIFA World Cup is that prices will double over that period. "We will see a lot of growth in areas close to stadia and especially where national and local government are spending on key transport infrastructure," said Taylor.

Property24