What is a Property Business?
Property Business is a business that makes money by buying, selling, and renting out land and houses.
Property Business Ideas In South Africa
Best Property Business Ideas In South Africa:
1. Online Auction
This is one of the lucrative real estate businesses to opt for. Online auctions have always been an effective way to make a good deal for properties. A few websites you can visit for a better idea of an online auction are Foreclosure.com, Auction.com, AuctionFox, RealtyBid.com, etc.
How Online Auction Works?
The working of an online auction goes like users will register on your platform to buy or sell properties. The process is quite different than that of ordinary buying & selling of properties. Here are three important parts of an online auction,
- The sellers in an online auction can be the property manager, owners, real estate agents, investors, asset managers charged with selling REO, and more. Most of the online auctions allow the ones who have licensed real estate specialists.
2. Online Property Listing
Property listing is one of the evergreen and profitable real estate business opportunities that never observe failures if strategized in the right way. More than 90% of buyers first go through the online listing of the properties.
One of the reasons for the increase in an online search of properties is due to the COVID-19 effect. The virus has made people use online services to stay uninfected. It clearly shows the popularity of the online property listing.
3. Online Rental Business
The rental business is an ever-growing business. People keep shifting from one place to another, which, in turn, generates a need to rent stays. Without giving more effort, you can start with this real estate business idea.
You can build a brokerage business model for your online rental business. Here you have two options, either you can start renting your own properties or build an online marketplace wherein the property owners can register for renting their properties.
4. Property Management
Property management in real estate means maintaining a professional relationship with landlords, tenants, contractors, and more. This real estate business idea is for all those who know how to manage properties and people together.
Property management real estate business comes with its risks and challenges. But, with risks, there are benefits too if the process goes in the right way.
5. AR/VR Technology
Showcasing the properties with the help of AR/VR technology is one of the best real estate business ideas booming in the market amid COVID-19.
These technologies help in saving the time and money that one spends visiting various properties. AR/VR lets users virtually visit properties from anywhere and anytime.
Real estate agencies who are using these technologies stated that they can close a deal sooner in comparison to traditional property showcasing.
Is South Africa a good place to invest in property?
South Africa’s property market is remarkably stable and is even considered the most stable on the continent. This means that property is a much safer investment where you don’t have to worry about your investment suddenly losing value.
How to make money from property in South Africa?
Holiday home rental can be a great way to earn income from a property while also getting to use the property yourself when it is not rented out. Holiday home rental can be a great way to diversify your portfolio and reduce your risk.
How much money do you need to invest in property in South Africa?
“A deposit of R35 000 can secure you a property to the value of R1 million, and a deposit of just R18 800 can get your foot in the door with a property valued at R550 000. We found such investment opportunities around the country, even in Bloemfontein,”