PROPERTY: BankersÂ’ Return to JoÂ’burg Homes Market
Recent Gauteng Business News
When bankers start showing signs of investing more money in their own homes Â– either by selling and buying bigger and better, or by extending and upgrading Â– its time to sit up and take notice, says luxury homes specialist Ronald Ennik.
Â“In Gauteng, and particularly within the Johannesburg and Sandton economic hub, we are encountering an increasing number of senior banking executives seeking opportunities to buy upwards or extend on their homesÂ– some with budgets of R10-million or more,Â” says the CEO of Ennik Estates.
Â“This contrasts with the past few years, when the banking executive community was notably absent from the homes market.
Bankers Are Always Well Informed About the Home Market
Â“Always well-informed on market trends, and, therefore, closest to the fundamentals of home and property cycles, bankers are invariably an accurate early compass reading of where the residential sector or homes market is headed Â– simply by virtue of what they themselves are doingÂ…or not doing, to theirÂ” says Ronald.
Â“Some observers may say the bankers now in the homes market are swimming against the tide. The reality is that, by the time homeowners as a whole discern an upturn, it is normally already some months down the track,Â” he concludes.
Ennik Estates was recently appointed to help market Â“The HoughtonÂ” Â– a R2-billion-plus luxury homes development which overlook the Jack Nicklaus signature golf course in the upmarket Johannesburg suburb of Houghton.
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