Pam Golding Properties (PGP), South Africa's largest residential real estate group in terms of sales, has reported record sales turnover of 852 million rand in its Western Cape region for the month of February 2005.

This figure includes sales achieved by the group's operations in the Cape Town metropolitan areas, the Boland & Overberg region, and the Garden Route.
 
Announcing the achievement on Wednesday, PGP said that in the Cape Town metropolitan areas and the Boland & Overberg region, approximately one in four homes sold in the marketplace was sold by PGP, according to the Residential Property Price Ranger (RPPR) statistical analysis of market distribution for February 2005.
 
PGP CEO Andrew Golding said the exceptional sales were attributable to a number of factors, including a buoyant marketplace, increased market share and penetration, and aggressive marketing. Offices that had achieved outstanding sales were Southern Suburbs, with 132 million rand and the Franschhoek Winelands International office with sales of 62 million rand.

Other areas which reported high turnover were Stellenbosch, Camp's Bay, Knysna, Somerset West, Northern Suburbs, Atlantic Suburbs, Paarl, Mossel Bay, George and Hermanus.
 
The residential property market in the metropolitan areas of Cape Town remained buoyant, he added, with a continued strong demand from local buyers. Homes priced between 500,000 rand and 3 million rand were enjoying the most attention.
 
However, realistically priced properties up to around 15 million rand were also selling well. The ever-popular Southern Suburbs area continued to enjoy a strong demand from homebuyers, as well as the burgeoning Northern Suburbs areas and Atlantic Seaboard - including the Waterfront, City Bowl, Hout Bay, Camp's Bay and Sea Point.

New residential developments in various areas - including the central city - had brought new investment opportunities onto the market, which continued to be well received.
 
PGP's Muizenberg office had sold the historic Rodwell House in St James during the month for 7.4 million rand - a record price for the area. In the Boland & Overberg region, PGP's Franschhoek Winelands International office reported the greatest activity at the lower and top ends of the market - from 800,000 rand to around 1.8 million rand, and from 10 million rand up to approximately 30 million rand.

Their February sales had included an agricultural farm (buchu and olives) in Paarl that sold for 17.6 million rand and a 15.6 million rand lifestyle (fruit) farm in Franschhoek that was sold to a family relocating from Gauteng.
 
Having experienced increasing popularity among homebuyers over the past three years, the Boland & Overberg region experienced an exceptionally busy month in February.

Among noteworthy sales achieved was the sale of a vacant piece of beachfront land in Hermanus, sold for 7 million rand. PGP now had 33 outlets in the region, having launched a number of new offices over the past year in new areas such as Villiersdorp, Tulbagh, Wellington, Swellendam, Napier, Franskraal and Pearly Beach, which were now coming into their own with an increasing demand for homes.
 
I-Net Bridge

Publisher: I-Net Bridge
Source: I-Net Bridge