Pam Golding International Property Group opened its doors in 1976. More than forty years later, the company that was started without start-up capital now has more than 300 branches. Revenues surpassed thirteen billion rand for the year 2016-2017, and they exceeded the mark of 20 billion rand by February 2017.
A breakdown of the sales shows that sales in the R10 million to R20 million price range reached 43 percent, while sales for homes in the R20 million to R50 million price bracket reached 17 percent. Despite the increase in high end sales, the bulk of their sales were generated for homes priced up to R5 million.
Lifestyle farms and agricultural farms brought in large profits as well. Two commercial citrus farms in the Western Cape were sold for around R118 million. The Western Cape also concluded numerous transactions for around R20 million and above – areas like the Atlantic Seaboard, the Southern Suburbs, and Winelands especially.
Sales trends in the Southern suburbs still remain firm as families move to the area to be close to schools and the university. In addition, freehold properties have risen by an average of 22.1 percent in Port Elizabeth and 29.2 percent in East London.
The massive new wave of economic investment, coupled with a new local government, suggests that the Eastern Cape housing market will experience a renewed growth. Property Divisions in the Pretoria region enjoyed a 49 percent increase in turnover and a 42 percent increase in unit sales.
Foreign buyers only make up around 5 percent of new homeowners in South Africa. Pam Golding Commercial Africa was established to increase their African footprint in the next financial year. Although the company already has offices across most SADC countries, they want to establish regional hubs in Nairobi and Lagos. For now, however, the company isn’t just relying on selling property. Pam Golding also has shares in the construction company Atterbury, who completed construction on the Mall of Africa.