Johannesburg – Luxury apartment developer Balwin Properties says it’s sold more apartments in the six months to August compared to the same period last year.
Balwin, which is the country’s largest sectional title developer says it sold 400 more at an average price of just under R1,2 million but the apartment prices are growing slower than the inflation rate.
The company’s profits rose by 44%.
At the same time, Balwin says it will not proceed with the construction of the boutique hotel at The Blyde Riverwalk Estate in Pretoria following objections from residents.
The company has also discontinued short-term letting at the estate which boasts a man-made beach.
