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Franschhoek : R40m in 'slow' market

11 Sep 2006

At a time when most people are finding a slowing in the property market, and certainly at traditionally the slowest moving time of the year for sales, Franschhoek has provided SA real estate group record sales of just under R40m for July.

With the markets supposedly weakening in general, agents at Seeff Franschhoek put their success down to actively assessing the market, price counseling to ensure correct prices, and plain hard work.

Seeff Franschhoek Licensee Sean Biden says: "We cannot simply say that the whole of Franschhoek is selling. There are parts of the market that are extremely active and others that are not. Anywhere up to the R2m mark is turning swiftly. We listed one house for R1, 850k and sold it within 24 hours. From R2m to about R8m, property is sticking a bit but at the top end, above R8m, the demand is strong again."

An example of one of the top-end properties recently sold is Die Eike, situated on just under 1.9ha of ground a stone's throw away from the centre of town, which was on the market at R15m.

Says Sean: "The majestic manor house has classic Cape Dutch architecture with the traditional 'H' shape, dates back to 1839 and was on the market for only the second time in the last 50 years. The location is unique, the views over neighbouring vineyards are unbelievable and a steam runs alongside the property, creating an unforgettable ambience."

Buyers are predominantly South African, and very savvy. Says Sean: "South African buyers tend to have done their homework on the property market they are buying in, and are very aware of what is over-priced and what is not. Sellers can no longer name their price; value for money is becoming a priority again." His advice for sellers is as follows: "Pricing your property correctly, yet competitively, is vital. Be realistic if you are serious about selling."

For more information contact or 082 658 2423 or send an email.

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Franschhoek : R40m in 'slow' market

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