Buy now and beat the rush in Polokwane

Prospective buyers in the Limpopo capital of Polokwane should stop waiting for homes in new developments and get their hands on a pre-owned property as fast as possible.

This lovely four-bedroom, three-bathroom home in Bendor is for sale through RealNet Polokwane for R2 843000. It features a pool and covered patio with built-in braai for entertaining, a wine cellar, a walk in pantry and a granny flat, as well as an established garden with boreholes and irrigation system.
That’s the word from local RealNet franchisee Maryna van der Merwe, who says she has it on good authority that the city’s current moratorium on new residential development is going to last a lot longer than anyone initially believed, and that there is unlikely to be any new stock released into the Polokwane market for the next five to seven years.
“Polokwane has a growing population due to an influx of people from the surrounding rural areas and the local authority has acknowledged that the shortage of social housing has reached crisis proportions – a fact which has infrastructure implications for the entire property market,” she says.
“But the moratorium has already been in effect for three years and no-one can hold their breath for another five years if they want to buy a home, so I foresee that the demand for the existing stock is going to rocket – and that prices will follow suit.
“Consequently, my team and I are concentrating our resources at the moment on finding the best pre-owned homes available for our buyers.”
As it is, says Van der Merwe, competition for stock is heating up, as demand for housing in Polokwane continues to rise. “We had an extremely busy December and January, with up to 30 calls a day from prospective buyers, and we even sold a property that had been on the market for more than a year.”
The highest demand at the moment is for houses priced at R800 000 to R1,1m, which can be found in the popular Fauna Park and Flora Park or the new extensions like New Flora Park and New Ivy Park.
There is also very high demand for serviced stands, which are of course few and far between, and growing interest in the upmarket suburb of Bendor which offers large houses on ample stands for between R1,2m and R3m.
“However, we find that prospective buyers are still exercising a lot of caution when making purchases as they have not forgotten the past recession. Pre-owned homes have an advantage in this regard, though, because you can see what you are buying and, for the time being at least, the per metre prices are lower, which means that you get more house for your money.”

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