select
|

Home prices keep rising in buzzing Bethlehem

Bethlehem in the Eastern Free State may offer a scenic and peaceful lifestyle, but there is nothing quiet about the local property market at the moment.
 
Upward pressure on housing stock has seen prices rise between 11 and 20% per year for the past four years - and the trend is expected to continue because of infrastructure constraints on further development, says Marna Erasmus of the local RealNet franchise.
 
"Bethlehem is the largest town in the Eastern Free State and serves as the commercial and medical hub of the region. It also offers job opportunities and good schools and thus attracts many buyers relocating from surrounding towns."
 
Farmers from outlying areas are also active in the market, she says. “They typically buy homes in town where their families can stay during the week so the children can more easily attend school and take part in all the extramural and sporting activities.”


13 Bedroom Small Holding for sale in Bethlehem
 
The fast gains in home prices have also caught the attention of investors in surrounding areas and they now represent a strong component of buyers, says Erasmus. Investors quickly find tenants since the rental market is buoyant.
 
As the only town in the region with a private clinic, she says, Bethlehem is also an attractive destination for retirees, who target homes at prices between R900 000 and R1,5m in the local retirement village, which also offers frail care.
 
The safe and peaceful lifestyle in beautiful surroundings is also increasingly attracting buyers from Gauteng who yearn for a life in the “slow lane”. Erasmus says nearly 30% of current buyers are from Gauteng and that they are bringing new vigour to the local commercial sector by starting small businesses or other enterprises.
 
"At the same time Bethlehem and surrounds has a lot to offer. The town is just 27km away from Clarens, the art centre and darling of the Eastern Free State's fly-fishing set, and our town enjoys the same spectacular views of the famous sandstone formations while, on a clear day, the Maluti mountains are etched on the horizon.
 
"For tourists, Bethlehem also offers good trout and bass fishing opportunities, hiking trails and comfortable accommodation in one of the many local guest houses," she says.
 
"And the town still honours the old tradition of closing down between one and two o' clock in the afternoons, when residents retire to their homes for a home-cooked lunch. It's a good indication of the leisurely pace of life here, as is the fact that residents safely go for evening strolls while children play or ride their bikes in the town's tree-lined streets."
 
Current prices for quality homes in Bethlehem start at around R600 000 for two-bedroom apartments in the CBD and R1,2m to R1,4m for sectional title units with three bedrooms and double facilities in security complexes.
 
Top properties in the luxury market reach prices of up to R4m, for which buyers can expect a Tuscan home on the banks of the Loch Athlone dam offering five bedrooms and features such as underfloor heating, an interior swimming pool and sauna.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
        
    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