AUCTIONS THE QUICKEST WAY TO PROFIT IN PROPERTY
With residential property prices in most sectors of the property market effectively on “hold”, auction offer the only real opportunity for investors to unlock value in a short space of time.
Analysis of the market shows that 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.
So says Park Village Auctions’ Roy Lazarus who adds that yet other properties are equally as likely to be dream homes for buyers who want to add TLC and make the house their home at the address they want.
“More 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 regular property auctions if you are in the market is my advice,” Roy says.
He concludes that one of Park Village Auctions most recent auction once again turned in impressive results, including a stately mansion in Chartwell, Johannesburg for an incredible R6.944 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.