select
|

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. 


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK