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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


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