With residential property prices in most sectors of the property market effectively on “hold”, auctions offer the only real opportunity for investors to unlock value in a short space of time.
Analysis of the market shows growth rates for the past few years have seldom topped the 5% mark per annum, which barely competes with other types of investments.
Yet, auctions give buyers the opportunity to bid on properties at less inflated rates and occasionally pick up bargains that can be cleaned, painted and flipped quickly and for a handsome profit.
Park Village Auctions’ Roy Lazarus adds that other properties are as likely to be dream homes for buyers who want to add tender loving care and make the house their home at the address they want.
“People make more money at our property auctions than almost anywhere else on the open market, which means it pays to be a part of our auction community. Keep a watch on the news and stay abreast of auctions if you are in the market is my advice,” Lazarus says.
He concludes that one of Park Village Auctions’ most recent sales turned in impressive results, including a stately mansion in Chartwell, Johannesburg for R6.94 million plus commission.
Fit for a king is the best way to describe the property and it put the successful bidder squarely in the A-list of property owners in the city.
For all auction related information, contact Park Village Auctions on 011-789-4375 or go to parkvillageauctions.co.za