Millennials attracting millennials to invest in property market
Spending a lot of time educating their tenants and first-time buyers around what goes into buying a property, by explaining bond intricacies, and matching them up with the right originators or attorneys, is how Evo properties seeks to lure young investors into the market.
The founder and managing director of Evo Properties in Cape Town, Emanuel Germanis says they do this with understanding, care and empathy. This is for younger buyers who have no experience in the industry and those who may feel nervous about the process appreciate their efforts.
“ There’ s nothing better than empowering someone to allow them to own their own home,” He says.
In the past year- 2020, a year where many people, including the youth, lost jobs and some sadly witnessed the death of their hard built business, Evo managed to retain good numbers – A sign of growth.
“ Contrary to market norms, we experienced only a 10 % drop-off in collections and tenant numbers during Covid, against 30 % and 40 % drops in other businesses in the market. This we can easily attribute to our tenant and owner mix of younger professionals who remained employed as well as how we reached younger tenants and buyers. It is also attributed to what we educated them, that property is in fact affordable,” Germanis says.
Investing is not Expensive
According to Germanis, there is a false impression that there’ s a huge cost involved with buying a property. However, Germanis says if you have a good job and decent salary, you can actually buy with very little. He further says that lack of experience in the property investment market doesn’ t equate to lack of common sense.
26 FEBRUARY 2021 SA Real Estate Investor Magazine