While Eswatini (previously known as the Kingdom of Swaziland) is one of the smallest countries in Africa, it continues to attract foreign investment from all over the world.
The Seeff Eswatini branch has only been operative for a couple of years, but since opening its doors it has facilitated significant property transactions in all sectors of the property market.
Seeff Eswatini's success - specifically with regards to commercial sales - demonstrates the incredible appetite for this type of property within Swaziland, even when compared to larger economies in Africa.
This demand for commercial property is largely fuelled by nationwide infrastructural developments, good returns, and improved confidence in Eswatini as a whole.
When priced correctly, commercial property in Eswatini is snapped up quickly regardless of the transaction amount.
In comparison to South Africa, average residential properties in Eswatini are typically priced higher even when compared to exclusive suburbs such as Sandton and areas in Randburg. This is mainly due to the absence of a functional competitive sectional title market that can offer an alternative to free standing title deed land.
In addition to this there is a segment of the market in Eswatini which historically consisted of foreigners, embassies and professionals such as doctors and entrepreneurs who can afford to buy properties at a premium price, creating the effect where a select few sellers capitalize massively and make tremendous capital gains.
This segment of the market, and its resultant effect on pricing, has been somewhat marginalized by the cessation of residential property sales to foreign nationals.
This can sometimes create a flawed image of the real economy as it gives other sellers false hope and could create the idea that the top-end luxury segment is more active than the other markets, which is not the case.
Exponential growth and increased property prices are particularly evident in the Ezulwini Valley, where there is limited supply, relatively high demand and willing cash buyers.
In turn, this has resulted in new opportunities in other areas for which demand has been somewhat lacking. Mukela and Umndoni residential estates for instance, have seen increased demand as other areas of Ezulwini are priced out of middle class markets.
Supply in the top end of the housing market is largely fuelled by downscaling, in part from sellers looking to downscale as a result of their life stage and in part from people downscaling as a result of financial pressure.
Opportunities for residential developments are mostly in and around Eswatini's major towns and gated community estates are on the rise.
The Nkonyeni Golf Estate in Sidvokodvo, where Seeff has a satellite office, is a major success story and proves the viability of further such developments.
