REAL ESTATE INVESTMENT TO STAY STRONG THROUGH 2017 DESPITE POLITICAL VOLATILITY

PRESS RELEASE
13 February 2017

John McDermott and his business partner, Jorica Mengjiao Jin, recently joined Fine & Country’s Camps Bay office to promote and market exclusive properties on the Atlantic Seaboard.

John says, “Despite the credit crunch that hit in 2008 and existing political volatility, property values on the Atlantic Seaboard have continued to grow exponentially and still fetch the highest price per square metre in Clifton. The buyers are an increasing number of wealthy Gauteng millionaires, Europeans and interested parties from African countries, such as Angola and Nigeria.”

Jin, who was born and schooled in Beijing, China completed a BA (Hons) Economics degree in Bristol and decided to immigrate to South Africa to pursue her passion in the property industry. She strongly believes that Cape Town can make her career dreams come true.

She and McDermott decided on a partnership, with McDermott being the mentor to assist her with integrating with the local business environment. She, in turn, will facilitate accessing the untapped Chinese market, which both strongly believe to have unlimited potential.

McDermott was recently asked by the President of the Cape Town Chinese Women’s Association, Yumei Shi, to be their speaker at their annual event a few days prior to the Chinese New Year, on how to better integrate with local business and social circles. The event was attended by prominent, high-powered Chinese business women and men, members of their chamber of commerce, the Vice Consul-General of the People’s Republic of China in Cape Town, presidents of their National Association for China’s Peaceful Unification, the South African Soong Ching Ling Foundation and Friends of South Africa Foundation among others.

McDermott’s presentation was well received and the function was a resounding success, with many copies of the second edition of his book ’Selling Yourself as a Way of Life’ bought by attendees.

Resulting from this, McDermott and Jin have already had enquiries from affluent prospective buyers living in China. John says, “One such client has asked us to find a suitable wine farm with a boutique hotel, others for apartments and homes on the Atlantic Seaboard and in Upper Constantia and Bishops Court, verifying the enormous untapped Chinese market”.

Linda Erasmus, CEO of Fine & Country sub-Saharan Africa, adds, Not only did the internet erase borders between countries; it also inspired people to explore and travel as well as work in other countries. China has in recent years, focussed on South Africa, resulting in many people from this continent now investing in property in South Africa. Forming such a strong partnership is the first step in offering our clients much wider radar of showcasing their valuable properties.

Unipalm’s Managing Director, Ragi Moonsamy, reiterates that property remains the best investment vehicle in South Africa which will impact positively long term for many who have not had the opportunity to participate in ownership together with an increasing demand for overseas investors to own property in sought after Cape Town.

Cape Town still substantially dominates the list of South Africa’s most exclusive addresses, such as Nettleton Road in Clifton, Glen Beach Road in Camps Bay, Head Road in Fresnaye, together with such other exclusive areas, such as Bantry Bay and Bakoven.

Readers can contact John McDermott on 083 225 0287 or john.m@fineandcountry.com and Jorica Jin on 074 344 6631 or jorica.j@fineandcountry.com or visit www.fineandcountry.com

ENDS

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ON BEHALF OF
Fine & Country
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Please contact Rosemary Hare on 082 459 6226 or rose@rosehare.co.za for more information.