Soweto - Burgeoning Market

Private Property South Africa
Julia Hinton

Private Property recently launched its first franchise office in Soweto,

headed by Tshepo Masitenyane, a born and bred Sowetan who currently lives in

Diepkloof. He believes strongly in the concept that it makes more sense to sell

your home privately.

Tshepo sees benefits to buyers and sellers in this market. A seller pays only a

small upfront fee and stands to save thousands in estate agent's commission.

Registering as a buyer is free, and those without Internet access need only

phone the national call centre to log their details. "Whenever a new property is

listed that matches their search criteria, registered buyers will automatically

be sent SMS and email notifications alerting them of the new property for sale.

An interested buyer can then phone the call centre or check the website for more

details. If they wish to view the property they can then contact the seller

directly. There is no middle man and delay," says Tshepo.

Although the township market has been slow to catch up to other areas, there has

been a vast increase in demand over the last few years. Driven mainly by

professionals such as teachers, nurses and police officers who want to live

close to their place of work, the demand for housing far outstrips the supply.

"In fact, research shows that there are up to seven potential buyers for each

house that comes onto the market in Soweto. It takes only three weeks on average

to sell a property in Soweto compared to three months in other, previously

'whites-only' areas," says Tshepo.

This property illustrates clearly the demand for homes in Soweto, as it sold

before we could even go to print.

To find out more about buying or selling your property privately, contact Tshepo

Masitenyane on 011 476 7503.

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