select
|

Why property investors should consider Potchefstroom

Affectionately known as ‘Potch’, the North West town of Potchefstroom looks to be on the up in terms of its property market this year.


This property is situated in an estate in Baillie Park, priced at R3.45 million. Comprising of four bedrooms, three bathrooms, an open plan living space and kitchen with a pantry and laundry, a study and patio, along with a double garage, swimming pool, landscaped garden and of course top notch security features.

“In January, the number of properties listed for sale increased compared to last year firmly making Potch’s current status a buyer’s market,” says Clinton de Witt, Director at Jawitz Properties Potchefstroom, the new franchise joining the brand.

Potch is an academic town with in excess of 45 000 university students enrolled last year, making sectional title accommodation a large focus in the area. North West University campus, CTI training campus, as well as several other educational institutions are based here, offering an excellent level of education and thus attracting people to the area to study. 

“There are plenty of opportunities for buyers to cater to student housing needs, where rental yields are increasing on average on an annual basis. With government prioritising education and subsidies to students, the need for affordable student housing should only increase over time with many investors jumping at the opportunity in anticipation of the potential growth in the rental market,” adds Zack Rossouw, the branch’s other Director. “There are other areas such as the large commercial hub of the city where there are freehold units, but sectional title properties do make up the lion share of the market.”

One-bedroom apartments on average cost around R580 000 to buy, and 2 bedrooms in the region of R620 000, while one-bedroom freehold properties on average come in at around R600 000, two-bedrooms at R800 000 and three-bedrooms at R1.2 million. “But don’t be fooled into thinking there isn’t a luxury market in the area, as homes for sale in security estates or larger freestanding properties can be priced around R8-10 million,” Rossouw says. “For example, one such property we are selling is listed at R7.6 million. It is 9.5 hectares and on the river front and includes three private islands as part of the deal, not to mention a luxurious main property with four bedrooms, additional staff quarters, outbuildings and superb entertainment facilities, to name but a few of the features of this incredible home.”

The diversity in properties available in Potch mirrors that of the diversity of the people living in the area. “From students to young professional and well established, older people, there is a mixture of residents in Potch,” de Witt adds.

“The buyers interested in the area are mixed between investors and developers, some from the surrounding town that buy in Potch and commute, while there are of course parents looking for accommodation for their children attending university.”

Potch is less than 50km’s from Parys and Klerksdorp, and just 70km from Van der Bijl Park and Sasolburg. “It’s an appealing location within close proximity to several tourist attractions such as the Vredefort dome, and Sterkfontein caves, and is situated on the banks of the Mooirivier,” Rossouw concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 24 May 2018
      Most real estate professionals agree that 2017 was one the toughest years to date; an eminently challenging 12 months that subdued even the strongest markets - including the country’s economic powerhouse of Sandton.
    • 24 May 2018
      These are uncertain and challenging times for the real estate industry, but the non-profit organisation Rebosa is fighting for their interests and finding pragmatic solutions to industry issues such as the urgent need to fast-track transformation says Richard Gray, Rebosa chairman.
    • 24 May 2018
      The decision to invest in property isn’t one that’s taken lightly, or dealt with flippantly. The same should ring true when deciding on an estate agent partner to handle the letting out of your property.
    • 23 May 2018
      Homeowners who are thinking of selling and “trading up” to a bigger or a better home had better be quick now if they want to get the best deal.
    • 23 May 2018
      The new Loftus Park development in Arcadia is really going to boost the demand for homes and rental accommodation close by and the neighbouring suburb of Sunnyside, says Gerhard Kotzé, MD of estate agency group RealNet Holdings.
    • 23 May 2018
      The importance of correctly pricing a property for sale is more imperative than ever. This is according to Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, who says that despite this crucial selling fact being emphasised so often, in the current market, many sellers are still expecting unrealistic prices for their homes which is having a negative impact on the ultimate sale price.
    • 22 May 2018
      Extreme weather appears to be the new normal, evident by the volume of insurance-related disputes reaching the industry watchdog’s desk. To avoid a situation in which your insurer refuses to pay up, you should proactively ensure that your home is well-maintained and ready for whatever winter has in store.
    • 22 May 2018
      As the impact of technology on the real estate industry becomes more significant, it is clear that there is a need for an objective look at not only traditional real estate models but also online and other alternative low-commission real estate agencies, to examine what they offer and what their impact might be.
        
    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