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VAAL DAM WATERFRONT STANDS BEING SNAPPED UP

VAAL DAM WATERFRONT STANDS BEING SNAPPED UP
 
Despite the challenging economic climate 11 of the total of 23 currently-available waterfront stands located on the Oranjeville side of the Vaal Dam and marketed by Pam Golding Properties (PGP) have been snapped up by Gauteng purchasers to build second or leisure homes.
 
Phil Medlock, PGP's area principal says: "Value for money is key and these stands, which range in size from 3-10 hectares – all with at least 100 metres of water frontage – are very well priced from R980 000 to a maximum of R1.4 million. This is coupled with the fact that these plots are in an area with extremely scenic views and where the water is deep – and therefore relatively unaffected by fluctuations in the dam level. While in many areas of the country the leisure homes market is in a slump, here on the other hand we find astute buyers eager to capitalise on the opportunity to acquire a prime located waterfront property which offers not only good value for money, but also the potential for very sound capital appreciation.
 
"To illustrate this in 2006 we sold a double-storey thatch home in a waterfront development located between Oranjeville and Deneysville on the Free State side of the Vaal Dam for R980 000, then a year later resold the property for R2.3 million and again, just one year later resold this same property again for R2.8 million. That's a whopping increase in value of 185.7 percent in just three years," says Medlock.
 
The waterfront stands are situated in an area known as the Confluence, where the Vaal and Wilge rivers converge and flow into the Vaal Dam. Here the dam is very deep and wide, allowing residents to sail to the Vaal Marina on the opposite shore, to Deneysville just a short distance away or travel by powerboat all the way up the Wilge River to Oranjeville which is only about 10 minutes away and is located on the Free State side of the dam.
 
Medlock says the Vaal Dam area is becoming increasingly popular to home buyers – particularly those wishing to have a weekend or holiday retreat – due to its easy access to Johannesburg and Pretoria coupled with the fact that it does not have the pollution problems of other inland dams. And due to its size, with over 1000km of shore line, it is not over-populated and has superb bird life as well as an abundance of activities on offer both on and off the water.
 
He adds: "This area is known for its tranquil, rural feel and unspoilt shore line. We currently have a mix of investors looking at property in Oranjeville due to its sound value for money and scenic, prime location. These include those seeking vacant land to retired couples looking to retire in a small, friendly village-type community as well as those wanting to acquire a weekend or holiday getaway property for leisure use."
 
 
Issued by Gaye de Villiers


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