New development in Potchefstroom:
Real estate development, or property developments, have manifested into popular business opportunities, with renovation and re-lease of existing buildings tothe purchase of raw land to be developed. Real estate developers and companies who coordinate all of these activities, converting ideas on paper to real property have found it to be a very realistic choice to those wanting to scale down,starting out small or invest with a lucrative future at mind.
“Property development shave increased tremendously by number in the last year, especially in areas close to universities and expanding societies” noted Carl Venter, Encephalitic of Engel & Vӧlkers Potchefstroom. Gated communities or complexes have become the most popular choice over the past decade, and increases to do so, as it offers safety and a hassle-free lifestyle in today’s fast paced life.
From an investment point of view, it would also not disappoint. As a return on investment, it almost guarantees success if the location and price is right. Seeking professional advice is also to your benefit as most real estate agents in your area do know about developments in advance.
What exactly are the most important factors and criteria that you should consider when making a property investment?
Carl Venter gave us some advice as Engel & Völkers Potchefstroom has been known for their projects division for over a decade.
“With the launch of Lucca, a new development by Renico Construction, we investigated the key factors when making aproperty investment decision” said Carl. He continued to share a list of KPI’s (KeyProperty Investment Criteria) when looking at the development of your choice:
If we look specifically at the new development in Potchefstroom, Lucca, as an investment opportunity it is definitely something to consider. The complex has only 89 units and is situated in aLifestyle Estate, making it the ideal choice- which meets all of the above requirements for a sound property investment. If you’ve recently driven through Potchefstroom and past the current under construction piece of land next to Tuscany Ridge, you would have seen that it shows great progress. The 2 bedroom,2 bathroom townhouses will be ready for Occupation August 2016.
The developers is Renico Construction, a well-reputed developing company from Gauteng with a list of more than 150 successfully completed projects –every single one of them completed on time and have never missed a deadline. Luccais Renico’s first development in Potchefstroom.
The 89 townhouses will definitely appeal to first time buyers (due to the price bracket as well as the lock-up-and-go appeal that the complex in an estate offers), young adults, small families looking for a private garden and the security of living in an estate, post graduate students as well as buyers looking to downscale, and the ground floor units feature private gardens.
“Because of the good ROI (Return on Investment) that Lucca offers, it is also a very sound opportunity for investors – whether they are looking for single units or looking to buy bulk” Carl concluded.