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New residential development in Burgersfort selling fast

Units in Platinum Heights, a new development bringing affordable homes to Burgersfort, are selling like hot-cakes, with the first phase having been sold out within two weeks of launching.


One-bedroom units in the new Platinum Heights development in Burgersfort are for sale off-plan through the local RealNet franchise for R399 000, and two-bedroom units for R525 000. The first phase of the project has already been sold out.
 
The sectional title stack units are the first in the growing mining town to be offered at price levels that enable local buyers earning below R20 000 a month to qualify for bonds, says Elsa de Bruyn of the local RealNet franchise, which holds a sole mandate to market the units.
 
"One-bedroom units in this development are selling off-plan at R399 000 and two-bedroom units at R525 000. At these prices, buyers with monthly incomes of about R12 500 and R17 000 respectively and good credit records can qualify for bonds," says De Bruyn.
 
Stock at these price levels is very scarce in Burgersfort and the units offer excellent value, she says. The neat units offer quality finishes, such as aluminium window frames and sliding doors, generous tiling and air conditioners. The central location of the development is an added bonus.
 
Construction of the 18 units sold in phase one has started and occupation is set for February 2014.A total of 34 units are available in phases two and three and De Bruyn says buyers are queuing fast to get their names on the waiting list.
 
"First-time buyers are very keen because of affordability, as are investors because of excellent expected returns. Rental properties in Burgersfort are in high demand and investors can confidently expect an immediate return on investment of about 10% with feasible monthly rental income of between R4000 and R4500 for one-bedroom units and between R5000 and R6000 for two-bedroom units."
 
Levies will be determined at the first meeting of the body corporate.


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