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Plenty of bids for Overberg properties

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There was strong demand for two plots in the Overberg area at the recent BidX1 South Africa online auction.

A vacant plot in the popular holiday destination of Struisbaai received 42 bids and eventually fetched R315 000, which was 275% above the opening bid.

Another Western Cape property on offer was a 450m² plot in Botrivier, a small village en route to Hermanus and Caledon, at the eastern slopes of the Houwhoek Mountains. This vacant land sold for R100 000.

The star of the sale on July 3 was a commercial property in Midrand, Gauteng, that fetched R29.5million, bought by a local owner- occupier.

MC du Toit, chief executive Auctions and Sales for BidX1 SA, says: “The response to our July auction was exceptional, with 203 bids placed and 44% of the 50 properties in the catalogue sold in just a couple of hours. This is way above the auction industry average, which in the current market is probably in the region of around 20 to 25% sales.

“The results exceeded those of our first auction in April, with a great deal of market participation. All registered bidders took part and each lot sold had a different buyer.

“While the buyers in this month’s auction were South Africa-based, we also had a lot of enquiries from other African countries. General interest in the catalogue of properties ran high prior to the auction, attracting 30000 views,” Du Toit says.

For more details about BidX1’s next sale on September 11, see https://bidx1.com/en/news/buying-property-south-africa-bidx1s-digital-platform or email info@za.bidx1.com.

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