select
|

Wildlife Estates in Hoedspruit showing best returns



Located in an area known as the Valley of the Olifants, The Limpopo town of Hoedspruit is situated in the heart of the central Lowveld bordering the Kruger National Park.

The area covers the middle reaches of the Olifants River with its major tributaries, and is an area rich in tourist attractions such as wildlife, scenery, mountains, rivers, dams, archaeology, cultural and ethnic attractions and other important sites associated with the history of the region.

Boasting a wonderful year-round climate, it is easy to see why the town of Hoedspruit has grown from a small and relatively untouched tourism and agriculturally-oriented town in the centre of the Lowveld to a tourist hotspot that provides visitors with a good selection of accommodation and other small town conveniences.

Despite the fact that in January this year Hoedspruit experienced the worst floods in its recorded history, with over 700mm of rain falling within an 18 hour period, Annie van den Berg, Broker/Owner of RE/MAX Wildlife Properties which operates in the area, says that the property market there is continuing to show signs of improvement, with investors starting to get back in the game.

She says that property within wildlife estates have shown the best returns on investment over the past year, with some stands in these estates selling four or five times over. “Due to the fact that most investors are still holding onto their cash, around 80% of properties sold within wildlife estates were bought as permanent residences, while around 20% were bought for buy-to-let investments,” says van den Berg.

“However,” she notes, “while property buyers within the Hoedspruit region are purchasing homes that need renovation as well as ones that are ready to just move into, the most popular purchase option at the moment that investors are snapping up is the vacant land that is currently selling for below market value.”

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that properties that are priced correctly will attract serious buyers. “Despite the fact that the property market is starting to show signs of improvement, the correct pricing of a property remains vital. It has been statically proven that if a home sells within the first four weeks of being listed, it sells for around 1% above or below fair market value. However, the longer it takes to sell, the less it will sell for. In fact, generally if a home takes longer than 24 weeks to sell, it will sell for around 10% below fair market value.”

Due to the good value for money properties currently on the market in Hoedspruit, Van den Berg says that investors in the Hoedspruit property market are tending to purchase multiple cheaper properties rather than one expensive property.

Her one piece of advice to property buyers, whether they are looking for a permanent residence or investment property, is to have a home inspection on the property up for purchase. “Buyers should know what the exact state of the property they are intending to buy is,” she says, “as well as making sure they know what all the costs involved in the purchase will be. It is essential that buyers follow through on due diligence.”



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for SAProperty.com.
    • 18 Jun 2018
      Sellers are often caught off-guard by the expenses incurred in the selling of a property. Just like there is no such thing as a free lunch, there is also no such thing as selling your property without incurring at least some costs.
    • 15 Jun 2018
      The second quarter of 2018 has proven to be the turning point for Midrand’s real estate market, especially the upper end which started to waver towards the end of a tumultuous 2017 with a notable drop in both sales and average selling prices.
    • 15 Jun 2018
      According to data recently released by FNB, the average age of a South African home buyer has increased from 38 to 44 this year. In an attempt to help first-time buyers enter the market sooner, Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, walks us through the steps of saving for your first home.
    • 15 Jun 2018
      Putting your house on the market can be a stressful process. There are so many decisions to make that will impact how quickly your house is sold and for how much you can sell it for. It’s a serious money game where you can’t afford to make the wrong decision.
    • 14 Jun 2018
      The word tourist describes someone who is visiting South Africa for a limited time and is probably not going to buy a property here – so why is the tourism industry so important to the real estate sector?
    • 14 Jun 2018
      Serengeti Estates has entrenched its status as one of Johannesburg’s most desirable addresses for a spectrum of homeowners with its launch of The Signature Residences, a new cluster village.
        
    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