select
|

Upgraders fuel Middelburg market

Low interest rates and increased affordability have spurred many locals to make the most of the opportunity and buy bigger properties, says René Peyper of the new RealNet Middelburg office.

“We are seeing significant activity in all sectors of the market but upgraders are particularly targeting areas such as Aerorand, Robberts Estates, Clubville and Groenkol and buying at prices up to R1,1m. Suburban homes as well as duets are in demand.

“And this trend is in turn creating openings for new buyers in the affordable sector, notably Eskom workers who are buying in areas such as Kanonkop and Extension 18. Indeed, the under-R500 000 sector of the market has become very lively. For example, a recent development of 18 one-bedroom units priced at between R430 000 and R460 000 was sold in record time.”

Although the top end of the market, where prices reach levels of up to R7m, is currently somewhat flatter than other sectors, luxury homes are still sought-after and developers are catering for this market, she says.

“Robberts Estate, a luxury security development, has just released stands in its latest phase. Prices range between R400 000 and R1,2m and stands are finding ready buyers. Owners can opt for building packages or build their own homes.”

Another luxury development just outside town is in the planning phase, she adds.

RealNet Middelburg, which opened for business in February, fields five agents and, says Peyper, sales in the first few months of operation have been exceptional. “Our turnover is very healthy for a new operation and may perhaps be ascribed to the fact that our agents are trained to pre-qualify buyers and to scout out properties that closely match their requirements.”


  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