Vangelis Doucas
Cape Town Atlantic Seaboard / City Bowl
Please briefly detail your career up to your current position I was trained as a lawyer at UCT having completed my schooling in Athens Greece at French Greek Lyceum . I completed a BA LLB LLM ( shipping ). I worked as a legal advisor in shipping and the oil industry and I also got involved in business and had several businesses I had invested in . My main focus was property investment and renovation with a passion for space and design and feeling the happiness that transformation to properties brought to clients . I only decided to join the property retail industry about 5 years ago and since then believe that I have been fulfilling my passion in life .
Briefly describe your first property investment I bought two properties in one evening from a real estate agent when I turned 30 . I took the leap of faith and decided that I needed to get into the property market and the sooner the better . The banks were very willing to give loans and with no deposit at all . I had a safe well- paid job and loved the lifestyle of the area that both the apartments I was looking at were offering . One in Devonshire on the main road in Green Point and the other in Alma Court on high Level Road , Green Point . Year of purchase : 2000 and prices : R280k and R300k respectively .
What has been your most significant property deal with your present company and what insights can you share from the experience ? My sale in Bantry Bay in THE BANTRY for R23.5m . Ideally located on the rocks and north facing this modern 3 bedroom 3 and half bathroom apartment offered all . It was sold fully furnished at a one of the area ’ s record per sqm prices to international investors . What made this property special is its unique north facing position in this high profile suburb mostly wind-free suburb . Close to the city ’ s main beaches and a stone-throw away from world famous Sea Point and a world class ocean promenade .
What opportunities do you foresee in your sector / industry in the coming year ?
The property market always provides the opportunity above all to have fun while realizing peoples ’ biggest dream : to acquire a new home or additional investment property . The market is healthy and mature with buyers seeing property investing as a safe haven for their money especially in times of world market uncertainty and continued political instability in this country . Of course , instability provides opportunities and a platform for higher returns . Our currency being majorly undervalued makes this a very attractive market for overseas investors as well . Cape Town remains on top of most international lists of preferred tourist destinations giving more credibility and sustainability to our property market as a whole .
RESOURCES
RE / MAX
www . reimag . co . za JULY 2016 SA Real Estate Investor 21