Investing in rentals, catch-22?
Loading player...
Interest rates for residential property are lower than ever before and those in the know say they may never return to pre-COVID rates. However, does this mean that this is the right time to invest in property?
Justin Easthorpe, Ooba Group Provincial Sales Manager in Gauteng says the answer is “yes”, if the intention is for you to live in it.
However if your intention is to rent it out, there may be some pitfalls.
“There is not much rental stock. So you’re not getting your return on a rental at this stage. It is an interesting dynamic that we’re seeing,” says Easthorpe.
Also read: Is this the time to purchase rental property or not? [https://www.ofm.co.za/article/business/313036/-ofmbusinesshour-is-this-the-time-to-purchase-rental-property-or-not-]
He adds the best way to approach buying with the intention of renting is with long term investment goals in mind.
Easthorpe also explains the benefits of purchasing property in a new development in his conversation with the Business Hour. Listen below.
Justin Easthorpe, Ooba Group Provincial Sales Manager in Gauteng says the answer is “yes”, if the intention is for you to live in it.
However if your intention is to rent it out, there may be some pitfalls.
“There is not much rental stock. So you’re not getting your return on a rental at this stage. It is an interesting dynamic that we’re seeing,” says Easthorpe.
Also read: Is this the time to purchase rental property or not? [https://www.ofm.co.za/article/business/313036/-ofmbusinesshour-is-this-the-time-to-purchase-rental-property-or-not-]
He adds the best way to approach buying with the intention of renting is with long term investment goals in mind.
Easthorpe also explains the benefits of purchasing property in a new development in his conversation with the Business Hour. Listen below.
