Buy hugely discounted properties (up to 70% off) on auction right now
An unprecedented number of distressed properties will go on auction in the coming few months as the economic recovery buckles under the pressure of a spiralling second wave of Covid-19.
Right now, some properties on auction are going for discounts of up to 70%, according to Business Insider South Africa, while buyers can expect an average markdown of 42%.
RELATED: We watched 33 distressed properties auctioned in Gauteng and saw an average 42% discount – Business Insider South Africa
The Money Show’s Bruce Whitfield interviewed Francois Viruly, a property economist at the University of Cape Town (UCT).
We’re starting to see discounts…Francois Viruly, property economist - University of Cape Town
We’re probably looking at a difference of between 11% to 12%... But there is enormous variation…Francois Viruly, property economist - University of Cape Town
At the lower end, prices are increasing while at the top-end it’s the opposite…Francois Viruly, property economist - University of Cape Town
Small businesses have come under pressure and need to sell just to remain afloat…Francois Viruly, property economist - University of Cape Town
Private cemetery business… significant growth… your tenants are fairly quiet… Yes, it is a business! … We do have them in South Africa… Returns are actually very good!Francois Viruly, property economist - University of Cape Town
Listen to the interview in the audio below.
An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.Read More
Bruce Whitfield asks personal finance advisor Warren Ingram to explain in detail the new laws affecting provident funds.Read More
You can buy R1 (or even one cent) worth of shares. "The key to getting started is to get started," says Charles Savage.Read More
Need new wheels? WesBank’s Lebogang Goaaketse discusses a popular method for making repayments more affordable.Read More
"It’s mandatory for medical schemes to pay for for the Covid-19 vaccine," says Dr Ryan Noach, CEO at Discovery Health.Read More
"Over the last month, it’s up 67%," says Farzan Ehsani. "Over the last year, it’s up 293%. These are dizzying numbers!"Read More
You may be missing out on riches beyond your wildest dreams. Or not. Here’s a 3-point checklist to guide your decision.Read More
"There’s a huge supply of properties for rent," says Tamira Gumzburg on determining what a market-related rental is right now.Read More
"There’s no real reason why people shouldn’t be able to shop around," says Tembinkosi Bonakele (Competition Commission).Read More
Pippa Hudson asks Certified Financial Planner Alec Riddle to explain the ins and outs of Gap Cover.Read More