A broad range of properties across all price ranges and region will be going on auction next month, giving you value-for-money opportunities to invest.
BidX1’s next auctions on 2 and 8 April 2020 offer buyers a number of value-for-money opportunities.
This includes first-time buyers and investors looking to capitalise on the threshold adjustment whereby no transfer duty is payable on properties priced up to R1 million.
MC du Toit, CEO for BidX1 South Africa says, “Incorporated in the broad mix of properties at this next auction is a selection of bank sale residential properties which offer great value.
“An interesting property on auction on 2 April is a one-bedroom, luxury suite in the elegant Raphael Suites in Sandown, as well as a top floor unit in a luxury apartment complex in the heart of Cape Town’s Century City, with views of Table Mountain from the balcony.”
Du Toit says, “As we observed from our last auction in February, while properties from R500 000 up to R1.8 million are still very popular price brackets, there is exponentially increasing interest in higher value stock.
“With our online auctions rapidly catching on among buyers, we advise anyone interested in bidding to register in good time to allow sufficient time to view the property, peruse all the documentation and ensure they have all the information they need in order to make sound bidding and buying decisions.
“The online accessibility and transparency that BidX1 provides has opened up properties to a much wider buyer market, which is enabling them to purchase property which historically may have been difficult to do for logistical reasons – and as a result, sellers also benefit in this way.”
Du Toit says the February auction achieved some notable sales, with very active bidding on a number of lots, including one particular property which drew no less than 69 bids. “Such was the interest, that a couple of lots even went into extension time. We also noted that the number of registered bidders is increasing each auction.
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“Furthermore, we saw multiple bidders on almost all the lots, ending up with a total of close to 670 bids made on the day. Some prices exceeded expectation. Market-related prices were achieved for properties which was good news, as sellers are seeing the value of an offer that is presented by a willing buyer, which benefits both the buyer and the seller.”