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Why supporting local is good for you neighbourhood property market

18 Feb 2021

The current economy has been tough on many local businesses and restaurants who are struggling to keep their doors open under ongoing restrictions. Those who live nearby are encouraged to support these struggling enterprises to help maintain the overall appeal of the neighbourhood.

According to Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, the value of properties increases in the area if the suburb is well-maintained and there are popular spots for locals to frequent. This includes restaurants and coffee shops, as well as local grocery stores, pharmacies, and any other charming businesses that make a suburb more convenient, interesting and appealing to buyers.

"If businesses shut down, leaving shops vacant for extended periods of time, this will attract vagrants and will have a negative impact on property values in the area. It is therefore in homeowners' own interests to help keep the local businesses in their suburbs open and thriving," he explains.

There are many ways for those within the community to show their support for their local businesses, either by choosing to purchase from these stores regularly or by recommending them to family and friends. As part of the RE/MAX national Show Your Love campaign that is running through the month of February, Goslett says that their network has been invited to support struggling local business either by making substantial purchases or by leaving positive online reviews and recommending them via social media.

"Every bit counts towards helping local businesses stay open, which in turn will have a knock-on effect on our economy as well. We encourage all South Africans to join us in our efforts to help support local businesses in any way we can as we continue to navigate through these challenging circumstances," Goslett concludes.

Article published courtesy of Private Property

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