It’s true that we have a way to go before we have seen the back of this pandemic and we still need to proceed with caution, but as rapidly as possible, we also need to start rebuilding our economy. One of the best ways to do that is through building and renovations.

In an interesting IOL article Berry Everitt, CEO of the Chas Everitt International Property Group was quoted as saying: “People who have seen the best returns on their property purchases in the past few years are those who bought soon after the Global Financial Crisis of 2008/ 09 began.” What is intimated is that generally, a financial boom follows a financial crisis.

As an experienced professional construction company handling both new builds and renovations, we can think of at least 3 very good areas where building and renovations will make financial sense as COVID-19 phases out.

Residential new builds in the Western Cape

The property market in Cape Town is booming and an even bigger surge is expected towards the end of the year when people from other provinces have had a chance to visit and see what an incredible place this is to be. We have the best infrastructure in the country, less load shedding and even a record for having dealt best with the pandemic.

It is rumoured that as more people can work from home, those to the north of us will be flocking to the Cape. What better time to make a great investment in building? They say it is a buyer’s market, but it’s far better to build the dream home you want – and in accordance with what the market demands – from an investment point of view.

Renovating office spaces to residential

It is a worldwide trend, particularly since the advent of the pandemic, that more people will be operating from home. So, the reality is that there will possibly be less demand for commercial property.

From a commercial property investor’s point of view, providing the zoning allows for it, it makes sense to look at converting commercial property to residential. Historically this has happened in many major cities when commerce has moved to the suburbs. Commercial property in the city becomes housing and great financial opportunities lie in this too.

Renovating home spaces to offices

On that point, conversely, as more people wish to work from home, they will need to create office spaces in their own homes, either with renovations or building on. Once again, this can only add great value to your home as home office space becomes more in demand as time goes on.

We can help

Davel and Lottering Construction can assist in all these areas and help you, as a homeowner, property developer or commercial property owner to build or renovate with future financial gain in mind.

Contact us to find out why we have created a solid residential and commercial client base in the Western Cape and are proud to be part of this amazing province that just continues to flourish and grow – despite COVID-19. Stay positive and stay safe!

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