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