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.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
    • 15 Jan 2018
      Sectional title insurance can be a little confusing and, as a new owner, you may be tempted to just assume your body corporate has you covered. While this may be the case, understanding the extent of your coverage and your personal liability is the only guaranteed way to protect yourself against potentially costly oversights.
    • 12 Jan 2018
      After an exceptionally good 2016 during which the Winelands residential market outperformed the national average by a considerable margin, 2017 was marked by a difficult winter which saw a notable slump in sales and demand.
    • 12 Jan 2018
      Small spaces can make a big impact. Irrespective of size, an aesthetically pleasing outdoor space can be a major selling point for prospective buyers. “Even if the outdoor area is small and only enough to sit and have a cup of coffee, it might just be the feature that makes the stand out from others in the neighbourhood,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 12 Jan 2018
      The boom of the digital age has opened up many doors to the way we buy and sell property. In the past we used to pop out and pick up the latest copy of the property magazines available, today we switch on the PC or grab our smart phones as online property portals & Facebook has become the new ‘go-to’ for anything, including shopping for your new home from the comfort of your couch.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us