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