Investors score on the re-sales at Brandwact aan Rivier

Pam Golding Properties reports that early investors have made a tidy profit on their purchases.  A plot bought for R795 000 in November 2010 has been sold for R1.2 million, while another two bought for R995 0000 have sold for R1.4 million each.  There are now just nine of the original 120 erven still for sale.

PGP’s area manager for Stellenbosch and project manager for the development, Louise Varga, says the initial uptake of plots was exceptionally quick. “This was remarkable by any standards,” she says, “but particularly so given the prevailing market conditions. The banks require a minimum 30 percent deposit, at a time when they are proving particularly reluctant to provide mortgages for development purchases. So the fact that so many buyers reacted so positively, so quickly, is proof of the high quality of this development and the competitiveness of its pricing.  It also demonstrates the high level of demand for land on the mountain side of the R44 linking Stellenbosch and Somerset West.”

Prices for the remaining erven at Brandwacht aan Rivier range from R1.7 million to R2.75 million, inclusive of VAT. This secures a plot of between 628sqm and 999sqm, situated above a dam with superb views of the surrounding mountains. The pristine Brandwacht River runs the entire length of the development, and common areas are being landscaped along the river-banks to create walkways, bridges and beautiful lawns for all to enjoy. Construction is already underway on the perimeter electric fencing and guardhouse, while all services have already been installed.  Transfer is expected in November 2011. Owners will have five years in which to build their homes in line with strict architectural guidelines, which will ensure a harmonious and cohesive overall design theme.

PGP’s MD for the Boland and Overberg regions, Annien Borg, says buyers to date have included mainly families with young children, who appreciate the proximity to town as well as the secure environment.  Another dominant buyer group has been existing Stellenbosch residents wishing to scale down after their own families have left home.

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