Property 'the best investment'

RESIDENTIAL property - which has seen prices tumble in recent months - is still a safe investment, with certain suburbs still fetching record prices, according to experts.

RESIDENTIAL property - which has seen prices tumble in recent months - is still a safe investment, with certain suburbs still fetching record prices, according to experts.

Ivan Neethling, chairman of the Western Cape Institute of Estate Agents, says the property market has performed considerably better than most sectors. Neethling, who says that listed property companies are riding out the recession better than most, says most investors with residential property portfolios breathed a sigh of relief with the recent interest rate cut.

It was the fifth interest rate cut since December but Neethling cautioned that it wasn't a good time for homeowners to start selling their properties. - Simpiwe Piliso

X