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.”

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