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TedLasso

TedLasso

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My only question is , did the person who paid 15m for that property they auctioned score the deal of the century , if the property is indeed valued over 100m??

Man, I would have gone for bidding if I had that kind of money.
 
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vigras rojara

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ForceFate said:
Are Cape property prices that ridiculous?
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There have been some sales at that point (R100 mill) and higher.

Although typically in places like Nettleton Road etc, certainly not in Milnerton.

The land would have to have really attractive subdivision rights for it to be worth much more than the auction price IMHO.
 
ForceFate

ForceFate

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vigras rojara said:
There have been some sales at that point (R100 mill) and higher.

Although typically in places like Nettleton Road etc, certainly not in Milnerton.

The land would have to have really attractive subdivision rights for it to be worth much more than the auction price IMHO.
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Yeah I've seen the R100m properties. They're amongst the most beautiful I've seen; from their manicured designer gardens to lavish interiors. What am I missing here?
 
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vigras rojara

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ForceFate said:
Yeah I've seen the R100m properties. They're amongst the most beautiful I've seen; from their manicured designer gardens to lavish interiors. What am I missing here?
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I don't think you're missing anything. It's easy to put wild valuations on properties when there aren't any comparable properties in the area to benchmark against. Particularly when trying to raise finance....
 
Swa

Swa

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InternetLuddite said:
My only question is , did the person who paid 15m for that property they auctioned score the deal of the century , if the property is indeed valued over 100m??

Man, I would have gone for bidding if I had that kind of money.
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That's an interesting question. How does a R100m property only fetch R15m on auction? I know auctions typically yield some bargains as the buyer base is much smaller but still sounds odd. Personally I think if he paid much more than R15m for it he was done in already. As others have said when there's no comparative properties it's hard to put a value on it and it's pretty much what the buyer is willing to pay.
 
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Ecco

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Craig said:
The house looks better....
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I looked at the pics of the house - valued at about R100m? I dont know how based on those pics. Maybe because of the land or size of the proprty, but the house doesn't look that great. Kitchen looks great and some other parts, but below...eish

zonnekus2.jpg
zonnekus1.jpg
 
Gordon_R

Gordon_R

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Thread zig-zag. He's back as PM of Lebanon:
www.bbc.com

Lebanon crisis: Saad Hariri returns as PM a year after protests

Saad Hariri, who resigned after mass unrest last October, must deal with a deep economic crisis.
www.bbc.com
Protesters began demanding a complete overhaul of the political system last October, as the economy began to stall.

Since then, Lebanon's problems have been compounded by the coronavirus pandemic and the explosion in Beirut.

The devastating blast in August, which many blamed on government negligence, prompted the resignation of Mr Hariri's successor, Hassan Diab.
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