select
|

Garden Route market gets its bloom back

The property market in Knysna has now finally turned the corner after several slow years, and is once again enjoying popularity as one of SA’s top choices for those buying leisure and retirement homes.
 

This mixed use building in George is for sale through RealNet for R8m. It has a good mix of commercial/ office space and new apartments and is close to a shopping mall.

That’s the word from Renate du Rand, owner of the RealNet franchise in Knysna, who notes: “Most of the surplus stock that had been on the market for some time has now been absorbed and we are even experiencing stock shortages in certain price categories and sectors, such as waterfront properties in the Thesen Island and Knysna Quays developments.
 
“This is driving prices up and a one-bedroom loft apartment in the Dry Mill luxury apartment block on Thesen Islands now starts at R2,5m – although this is inclusive of furniture and a private mooring.
 
“Prices for free-standing houses start at R5m and range all the way up to R17m, while in the Knysna Quays, the starting price for three-bedroom units is R2,65m, and that for four-bedroom units is R5,4m.”
 
She says her franchise has recently also had many enquiries for lifestyle farms and smallholdings on the Garden Route and recently sold a 4ha stand adjacent to the N2 for R500 000.
 
“A 15ha smallholding near Halkerville sold for R1,8m, and 26ha in an indigenous forest sold for R1,95m. We also have some other attractive properties listed, including 4ha of grazing land in Rheenendal for R950 000; a 28ha farm bordering the N2 for R2,5m and a 4200ha game farm in the Baviaanskloof.
 
Du Rand says current homebuyers in Knysna are mostly from Johannesburg, Cape Town and abroad, and that many are retirees, so are not dependent on home loans. “Quite a number of people are also purchasing now for future retirement use and renting their properties out on long-term leases in the meanwhile.
 
“The whole Garden Route area has once more become sought-after and as a result, business owners, developers and property investors are also finding it worthwhile to increase their footprint here again. We have recently concluded several transactions for retail centres and shopping centres, as well as income-producing commercial properties.
 
“For example, we recently sold the Rhapsody Centre in St Francis Bay to an SA investor who is expecting a 9% net return on his investment.”
 
Other excellent investment and business properties currently listed, she says, include a mixed-use property with commercial/ office space as well as some new apartments, in George (see photo). “Returns of close to 10% can be expected here, since it is situated close to national retailers and a shopping mall.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 26 Apr 2018
      Banks are showing an increased appetite to lend according to first quarter (Q1 2018) property statistics recently released by ooba, South Africa’s leading home loan originator.
    • 26 Apr 2018
      Moving into a new home comes with such a long list of expenses that one often searches for ways to cut back on costs. Hiring a professional moving company is one of the first expenses that many buyers tend to try and work around, especially now that purse strings are even tighter owing to the VAT increase that took effect this month.
    • 26 Apr 2018
      Investors looking to buy a property offshore can potentially recoup their money faster through short-term rentals than traditional letting options, all the while earning income in a foreign currency.
    • 25 Apr 2018
      Whether you are a seasoned seller or new to the game, putting your home on the market is an exciting moment. To ensure you get the best possible outcome these 8 value adding additions to your home is worth the effort.
    • 25 Apr 2018
      After four years of unprecedented growth fuelled by semigration, the Southern suburbs market faced a number of challenges in 2017, including dwindling affordability and a marked slowing in house price growth with many sellers forced to lower their prices in order to secure a sale.
    • 25 Apr 2018
      Mall of Africa, is celebrating its second year of sensational success. This splendid super-regional shopping centre first opened on 28 April 2016, and has grown in popularity, performance and profile since then.
    • 25 Apr 2018
      While the role of trustee in a sectional title scheme is a voluntary and unpaid position, it is one that comes with huge responsibility. Trustees have a fiduciary duty towards their scheme, says Chinelle Hewit, Operations Manager at sectional title finance company Propell.
    • 24 Apr 2018
      The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
        
    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