Why sectional title property is so popular

2014-10-30 09:05
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Cape Town - Sectional title properties most commonly take the form of flats, townhouses, apartments and cluster homes. They are referred to as a 'unit' in the Sectional Title Act.

And they seem to be the popular choice for buyers - but the big question is why.

Pam Golding Property Group CEO Dr Andrew Golding told Fin24 in an interview that there are a number of reasons why this is the case.

"Well, I think as a genre of property, sectional title developments have certainly come into their own over the last number of decades ... and they are a particular entity within the property sector, which proves to be popular."

He said the units are also attractive because of their security features and investment possibility.

"They particularly have security aspects, which are often proving to be popular; and they are a general property investment opportunity for investors, for buy-to-let investors and for people looking to get onto the first round of the property ladder."

He added that sectional title property schemes are favoured throughout the property market.

"I think that developers over the last number of years have been bringing sectional title developments onto the market from affordable homes all the way through to the very most expensive homes."

There are several costs involved when purchasing a home and buyers often look for a "correctly priced home". Said Golding: "Well, I think this is more of an art than a science..."

Watch the full interview to find out what a correctly priced home is:

 - Fin24

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