WHAT TO EXPECT FROM THE TOWNSHIP PROPERTY MARKET?

Business owners often reflect on the past year’s results. This is exactly what Mathe Moshoeshoe did when we touched base with her in 2019. Mathe helps homeowners in the townships rent and sell their properties through her company, Moshoeshoe Properties. She explained how she identified the gap in the township property market.

“I used to work for a real estate company that focused on expensive properties. So, I wanted to bring the same service and excellence to the townships,” says Mathe.

While the township property market has long been misunderstood by many in the property business, the value and potential within this previously ignored market segment have finally been uncovered by entrepreneurs like Mathe, who enjoys working with first-time home buyers for two reasons: to educate them and make sure that they are buying the right property. She adds: ” And I empower them so that they can educate other first time buyers they will meet in the future.”

In the townships, houses that were previously worth R300 000, have grown in value to reach R600 000 because they are located next to a mall. Infrastructure is also improving at a rapid pace, and the new developments cater to different income groups. Mathe says her target market is people earning between R3,000 and R25, 000.

She offers internships to the youth to introduce them to the real estate business. In addition to that, her company hires locally whenever there is a need to refurbish a house.

Asked how 2019 has been for her business she said: “2019 was a bit challenging because the year tested my leadership skills. At some point, I had to learn how to delegate and understand the role of a leader. However, in terms of sales, we did exceptionally well. We also partnered we another company from the UAE called Driven Properties. Our mandate is to buy and sell property across the African continent. We feel this is another way of growing our brand.”

Indeed, hard work with plenty of rewards, and a touch of good luck will all come together to make 2020 very prominent period for Mathe to grow her business. BetterBond statistics show the number of bond approvals for township properties increased markedly since November 2018. This trend is expected to continue in the new year.