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Johannesburg - People selling their houses should not expect the coming Fifa Soccer World Cup (SWC) tournament to have a direct impact on the housing market.
This optimistic notion has done the rounds for some time and is unrealistic, says Erwin Rode, a property valuer and economist at Rode Associates.
Estate agents creating hype around the SWC could in fact harm the housing market, declares Rael Levitt, CEO of the Alliance Group.
He says the hype could cause sellers to demand unrealistic prices, thinking that soccer fans will descend on South Africa in a buying frenzy.
The soccer tournament will be positive for sentiment and probably give a boost to super-luxury residential properties, but will not magically stimulate the housing market into boom conditions.
Rode says one hopes that a successful tournament will help the tourism industry - but this is about as much as one can expect.
First National Bank property analyst John Loos nevertheless believes that the soccer spectacle will prove a strong marketing tool.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.