select
|

Nelspruit offers buyers ideal property investment options

Generally, demand for housing within the Nelspruit region has shown exponential growth due to the fact that many family buyers and executives have relocated to the area, says Maurice Lodewick, Broker/Owner of RE/MAX Lifestyle Estates.

Figures from Lightstone, a property information and statistics provider, reflect that the number of property transactions in the area increased by around 18% from 2011 to 2012.

He notes that as the capital of Mpumalanga and a key manufacturing and agricultural hub of the north eastern region of South Africa, a number of large businesses have chosen to move their operations and head offices into Nelspruit. This migration and increased economic activity has attracted a large number of new people to the area who are looking to settle and purchase property.

Lodewick says that these buyers are predominately looking for cluster and freestanding homes situated in secure complexes and lifestyle estates that offer three bedrooms, two bathrooms, two living areas, a double garage, staff accommodation, a swimming pool and garden. He notes that sectional title and estate property options have become very popular for several reasons, such as their architectural guidelines, homeowners rules and of course the peace of mind they provide with state-of-art security features. Properties that have sold well within secure estates in the Nelspruit area have mainly been priced between R1.5 million and R2 million.

“The fact that secure complex living has become such a sought-after lifestyle makes this an ideal investment option.  Buyers who purchase homes within these estates can expect an annual estimated appreciation in value of around 5% to 12% per annum, which is remarkable considering the current market,” says Lodewick.

According to Adrian Goslett, CEO of RE/MAX of Southern Africa, the popularity of security and lifestyle estates is not just restricted to the Nelspruit area. “Security along with lifestyle offerings have become major determining factors for many South African buyers when looking to purchase a property. Properties within estates have performed extremely well countrywide over the recent years and are likely to continue to provide a healthy return on investment moving forward,” says Goslett.

Lodewick say that another property option that is likely to perform well in Nelspruit during 2013 is sectional title units and apartments that are in proximity to the new university which will be opening soon. “As long as there are learning institutions, there will be a need for student accommodation. Off-campus housing is always in demand and the constant annual influx of new students will mean an endless supply of tenants for buy-to-let investors,” says Lodewick.

He notes that 2013 will be an exciting year for real estate in the Nelspruit area. According to Lightstone, the average price of a freestanding home in the area is R1 086 000 and the average price of a sectional title unit is R637 000. Both are the highest prices seen in the area over the last ten years.

A property that is currently on the RE/MAX Lifestyle Estates books which is considered to be an ideal investment option is a spacious three-bedroom, two-bathroom home, described as an unexpected gem. Situated in a popular, secure complex, this immaculate home features an automated double garage which leads into the house, a covered patio and walled garden. Priced at R1.64 million, the home is ready for a buyer to simply move in.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      If you are looking to sell your home this year, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that there are five crucial things to do before the ‘for sale’ sign goes up.
    • 01 Feb 2018
      February is the month of love and to celebrate we will be posting about all the things we love this month. Follow the #MyPropertyLoves hashtag to keep up with our favourite things.
        
    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