select
|

Delmas market set to take off

Infrastructure development in and around Delmas is boosting economic activity in this Mpumalanga town and has led to a shortage of residential rental accommodation.

Rental units are in high demand among construction workers and professional contractors at the Kusile power station and a new cement factory, says Koos Pretorius, who has recently opened a new RealNet franchise in Delmas.

Pretorius, who also owns the RealNet franchise in nearby Bronkhorstspruit, adds that a proposed cargo airport next to the N12 highway and planned upgrading of the road between Delmas and Bronkhorstspruit will add further impetus to the town's economic growth which will, in turn, boost the property market.

"Investors in rental accommodation are already earning sound returns since strong demand has pushed up monthly rentals. The town is bursting at the seams with the influx of construction workers and there are now excellent opportunities for investors as well as developers.

"However, little development land is available and surrounding agricultural land will probably have to be rezoned to accommodate much needed new residential development," he says.

Rentals for townhouses range between R4000 and R4500 per month while full-title homes are rented out at between R5000 ad R12 000 per month, depending on size and location. Pretorius says many tenants on short contracts require furnished units and landlords finance furniture through hire purchase. "In this way, monthly furniture payments are covered by the higher rentals that furnished units achieve and landlords are not out of pocket."

Pretorius is currently recruiting experienced estate agents for the RealNet Delmas office. The office, which was opened three months ago, currently fields five agents and Pretorius plans to expand the sales force to 12. "The Delmas property market is on the up and up and I confidently expect that it will become one of the country's star performers," he says.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 25 Apr 2018
      Whether you are a seasoned seller or new to the game, putting your home on the market is an exciting moment. To ensure you get the best possible outcome these 8 value adding additions to your home is worth the effort.
    • 25 Apr 2018
      After four years of unprecedented growth fuelled by semigration, the Southern suburbs market faced a number of challenges in 2017, including dwindling affordability and a marked slowing in house price growth with many sellers forced to lower their prices in order to secure a sale.
    • 25 Apr 2018
      Mall of Africa, is celebrating its second year of sensational success. This splendid super-regional shopping centre first opened on 28 April 2016, and has grown in popularity, performance and profile since then.
    • 25 Apr 2018
      While the role of trustee in a sectional title scheme is a voluntary and unpaid position, it is one that comes with huge responsibility. Trustees have a fiduciary duty towards their scheme, says Chinelle Hewit, Operations Manager at sectional title finance company Propell.
    • 24 Apr 2018
      The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
        
    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