Enthusiasm for property grows

It's going to take a lot to dampen private investors' enthusiasm for property - despite the recent improvement in the performance of stocks
and shares.
"Three years ago," noted Dr Piet Botha, chairman of the Nationlink estate agency group, "it was plummeting share values that prompted
many investors to switch to bricks and mortar and kickstart the boom in the residential property market.
"This has been sustained by rapidly rising prices, and of course by the dramatic fall in interest rates, which not only lowered the cost of
acquiring property but also lowered the returns on savings and inspired a second wave of investors to turn to the property market to improve their
earnings."
And as things stand now not many of these investors are likely to be enticed away from property, he said.