select
|

SUSTAINED DEMAND FOR HOMES IN ECONOMIC HUB OF GEORGE

A key business and tourism hub on the Garden Route and with its own airport just 15 minutes from the city centre, George in the Western Cape enjoys a sustained demand for residential property among both local and upcountry buyers.

Stephen Murray, Pam Golding Properties area manager in the George and Wilderness areas, says more than ever, today’s home buyers prioritise affordability with the result that properties around the R1.5 million mark are most sought after. However, over the past year and despite the economic slowdown PGP has also concluded sales in the upper price range up to R8.7 million.

“George is rapidly developing into South Africa’s golfing paradise, being home to three of the country’s ‘top 10’ golf courses.  Particularly popular is the Fancourt Golf Estate with its Outeniqua and Montagu courses and the Links Golf Course which was recently voted number one in the country. The other world-class golf courses include the Ernie Els designed Oubaai golf course and Kingswood Golf Estate with a Sally Little designed golf course and its timeless Cape vernacular design homes.”

With a sophisticated infrastructure including the recently completed Garden Route Shopping Mall, George has managed to retain its appealing small town atmosphere, drawing family home buyers seeking a more balanced way of life.
Murray says house prices are dependent on the suburb and key attributes of the property, but generally asking prices are varied and range from R800 000 to R36 million for freestanding homes, with the more upmarket homes situated within secure lifestyle estates. Newly built units within a complex vary in price from around R1.275 million to R2.4 million.

He says properties to rent are in demand in George. "In the eastern suburbs and in Heather Park  (golf park) we are experiencing a rental stock shortage for freestanding homes in the price range from approximately R5 500 to R8 500 per month. Other areas such as Heatherlands and Camphersdrift and the more upmarket areas of George generally see homes fetch between R8 000 and R14 000 per month in rentals. On estates such as Fancourt and Kingswood, and again depending on the particular property and the demand for such rentals, monthly rates of R10 000 to R15 000 can be achieved, with rentals at Fancourt reaching the R35 000 level for some properties." However, adds Murray, modern, recently constructed units in complexes vary from just R4 500 up to R9 000 a month.
Issued by Gaye de Villiers


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
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.
        
    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