Economic Real Estate Trends For 2011

Private Property South Africa
Private Property Reporter

Downscaling and downsizing is the latest trend when investing in

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real estate in 2011. The glamour and glitz is now gone, with South Africans becoming a little more realistic when it comes to maintaining large properties, massive swimming pools, rolling lawns and a bevy of servants. The cost of maintaining properties on this massive scale has lost its appeal. It costs an arm and a leg to keep a team of staff well taken care of, and swimming pools are not only expensive, but are a nightmare to keep in pristine condition.So what is the answer to the big South African dream? Do not despair…downscaling need not be a step down, but a little step to the side.With the advent of magnificent golf estates springing up all over South Africa, wonderfully built state-of-the art townhouses being designed, and architects winning international awards, you can realize every part of your dream, only without the added expense and inconvenience of an outlandishly enormous property. Gated communities and estates are particularly attractive options for those looking to downsize, as they often offer the benefits of shared resources and management costs. This is a new decade; the dawning of a fresh start with an upswing in property in South Africa, starting new trends and breathing a positive air into the property world and also the economy in general. This is good for everyone’s psyche, leaving all the doom and gloom of the past behind in 2010.Real estate sale in 2011 will most certainly lean towards smaller properties that are less expensive to operate and maintain, whilst putting more cash in your pocket. For example you can literally save thousands on municipal costs when running a smaller property. Most noticeable will be the demand for properties in the bread and butter range of under a million. Unlike in the past, this will not only apply to first time investors, but to second and even third time buyers.Real estate for sale in South Africa has taken a 360 degree turn-around, and the demand for smaller properties, even in the higher echelons of the market, is reflected in records by some of the top real estate agencies.The mantra for real estate in 2011 will be “less is the new more”.

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