Mining a boon to Mafikeng

There is a "quiet boom" going on the little Northwest town of Mafikeng, thanks to increased platinum mining in the area, and both house prices and rentals here are still climbing.

That's the news from Latiefa Jacobs, principal of leading local agency Harcourts Diamond (formerly Homenet), who says: "Mafikeng is definitely up and coming. For instance, a home that would cost R600 000 in Lichtenberg will sell for R900 000 here, and rentals have risen by 25% in the past year.

"Indeed, so popular have rentals become in the town that rental stock is thin on the ground with the average house renting for between R3 500 and R6500pm depending on locality."

Meanwhile, the influx of new residents in the wake of the expanded mining activities has prompted new development in Mafikeng. A sizeable new mall on Nelson Mandela Drive is nearing completion, and there are many new homes going up, notably at the Leopard Park Golf Estate where luxury homes are selling for between R3,5m and R7m. Stands here measure 1000sqm on average and facilities include a pool, gym and clubhouse.

There are also, says Jacobs, good opportunities for buy-to-let investors, thanks to the high demand for short-term accommodation, and there is a range of property available from R300 000 right up to R3,5m.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 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.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us