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Bustling Caledon bursting at the seams

The year has got off to a flying start for the real estate market in the Overberg town of Caledon, thanks to an influx of young people taking up new jobs at the Caledon Casino Hotel & Spa and at the new Victoria Mall shopping centre.


This immaculate family home in Caledon is for sale through RealNet Overberg for R1,6m. It has three bedrooms, two bathrooms, an open-plan lounge/ dining room, an open-plan kitchen/ family room, separate study, outside laundry and a double garage, as well as a lovely large garden offering beautiful sunset views.
 
And there will be more jobs and an increasing shortage of homes for sale as infrastructure development proceeds in and around the town, says Riaan Smuts, owner of leading local agency RealNet Overberg.
 
“Caledon is experiencing a lot of infrastructure development, starting with the tarring of the road linking Hermanus and the surrounding areas to the town. It was a gravel road, but now the 35km route is a formal road taking one past wine farms and entertainment venues,” he says.
 
“In addition, a new petrol station and several new shops are going up next to the casino on the N2, the airport is in its final phase of approval before it can be constructedand there are plans in the pipeline for a new private hospital located behind the State hospital.”
 
The Department of Education recently opened new offices in the town, which has further boosted the demand for both rental and permanent accommodation, Smuts says, and there is also increasing demand from senior citizens, although Caledon has a shortage of retirement accommodation.
 
“Caledon’s location  in the beautiful wheat and canola fields at the foot of the Zwartberg, and just 120km from Cape Town, makes it the perfect retreat from city life and we also receive a lot of enquiries from would-be ‘semigrants’ - but unfortunately can’t offer the kind of properties and opportunities most are looking for at this stage.
 
“We have some excellent schools, but we really need more security villages and gated estates to give city dwellers the conveniences they are accustomed to.”
 
Meanwhile, he says, the increasing demand for rental accommodation makes Caledon a good bet for buy-to-let investors, with two-bedroom flats that cost around R475 000 to buy now letting for around R3500 a month, and three-bedroom family homes that are priced at around R1m letting for R5500 a month.
 
The demand from homebuyers is currently strongest in the R800 000 to R1m price range, and the upper end of the market now hovers around R1,3m. 


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