27 Jan 2013
With the shakeup in world affairs over the course of the past five years, there’s no denying that one of its previously most dependable sectors – real estate, has been one of the hardest hit. This abject collapse is certainly true in first world countries such as Ireland, Spain and the US. However, for countries in the ‘third world zone’ such as South Africa, the opposite is true. For architecture firms in Cape Town, with its picturesque beaches and famed Table Mountain landmark, there has never been a better time for seizing opportunity from would-be investors looking for dependable and quality investments. Kritzinger Architects is a firm that has leapt at this opportunity.
Entering the market
“The global investment community is waking up to the luxury property opportunities offered in the South Africa real estate market as they seek alternative destinations outside the eurozone to invest their capital,” says Jed Kritzinger, CEO and co-founder of Kritzinger Architects. Having designed impressive public use buildings such as the new Cape Town International Airport, a multi-billion-rand gateway to the city, Jed is well versed in accountability and expectations of million dollar and euro investors. Kritzinger Architects is able to offer investors looking to enter the still-growing Cape Town luxury residential market a reliable point of entry.
Having recently won Best Single Residence in Africa at the 2012 International Property Awards, husband-and-wife team Jed and Julia, whose impressive joint CV includes working with architects such as Sir Norman Foster in his London practice, as well as numerous other international architect firms, are well versed in dealing with high-end clients with stringent expectations. They offer a unique proposition for potential investors, with their understanding of the intricacies of the market and passion for providing excellent real estate value while creating buildings that exceed expectations.
“When it comes to considering an investment in a foreign country, most people simply don’t know where to start. We offer a turnkey service, which includes advising clients on purchasing the right property at the right price, feasibility studies, architecture and interior design. We also oversee local construction right through to the final handover of completed furnished projects,” says Jed. Kritzinger Architects deliver every last detail without the owners even needing to be in the country. This is proving to be their USP in a fiercely competitive market.
Buoyant with buyers
Unlike its European and US counterparts, the South African luxury residential property market remains buoyant with buyers continuing to pay premium prices for A-list addresses. There’s a practical reason for investment here too. “It’s no secret that given its natural resources, Africa is ripe for opportunity and Cape Town is seen as the gateway to the continent – we are thoroughly enjoying working with a wide variety of opportunity-savvy clients of every nationality,” says Jed, whose discretion regarding his clientele is legendary in the industry.
The challenge is to assure clients who are paying a favourable rate for their deluxe builds that their investment matches the outlay, given this is a country where instability has been an issue in the past. In this regard Jed explains “The low exchange rate between the South African rand and major world currencies enables buyers to buy more for their money and with the weakening rand we are in a unique position to help them spend wisely.” With insight into the marketplace, extensive knowledge and international experience, combined with the ability to converse in a number of languages, Kritzinger Architects seem perfectly poised to welcome foreign investors.
South Africa’s economy continues to grow and Kritzinger remains resolute in his take on the real estate market . There are few places left on earth where money buys more than you might have expected and if you’re a foreign investor South Africa is one of them. n