‘Standing room only’ in Potchefstroom property market

The Northwest town of Potchefstroom is known as a centre of excellence for tertiary education – and for the thousands of students that have long been the mainstay of the Potchefstroom property rental market and new development sectors.

However, it is also the commercial hub of a large and prosperous farming and mining area and lately, has also begun attracting an increasing number of new home buyers who are relocating their families from the likes of Johannesburg and Pretoria and commuting to their city offices only two or three times a week.

“And as a result,” says Bertus Huisamen, principal of the new Chas Everitt International franchise in Potchefstroom, “there is virtually no empty accommodation here. A real shortage of Potchefstroom properties to let means that rental prices are rising. New apartment developments are also selling rapidly, mostly to investors or students, who prefer to rent or buy their own accommodation now rather than a ‘student house’ as in the past.

“Potchefstroom houses are also selling swiftly, especially in the R800 000 to R1,5 million range, in spite of the banks’ tough credit criteria for those applying for home loans. At the upper end of the Potchefstroom property market, prices have already risen due to a shortage of stock.”
In short, he says, there are opportunities galore, and it is this context that he and partners Surika Labuschagne and Johan Voschenk, formerly of local Potchefstroom estate agency “Dimapoint Realty”, recently decided to become Chas Everitt International franchisees.

Huisamen, who has been a resident of Potchefstroom for almost 50 years and deeply involved in its property and legal sectors, says they all felt it was essential to choose the right ‘vehicle’ to maximise the potential of the current situation in Potchefstroom property, “and I firmly believe we could not have chosen a better partner than the Chas Everitt International property group.

“I have been impressed with the professionalism that we encountered from the start, and with the outstanding training we have received so far. However, what stands out for me personally is the ethical approach and values that are fundamental to the group. I have always believed that following the ethical path will guarantee success, and this has already been proved by the continued growth of the Chas Everitt group.”

Group business development director Gerhard Kotzé says: “We have watched the Potchefstroom property market grow substantially in the past few years with the expansion of student numbers at the North West University, Vusulela College and the Agricultural College, and the increase in mining activity in the region.

“And now we believe we have found the right franchisees at exactly the right time to launch the Chas Everitt brand into this burgeoning North West real estate market.

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