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
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    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