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
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 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.
        
    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