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
    • 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