Housing in the affordable price segment is in short supply in Hazyview on the Panorama Route in the Mpumalanga Lowveld.
"The local property market is being supported by strong demand in the tourist and affordable housing sectors, but demand in the latter far outstrips supply," says Marelize Schuld, owner of the local Aida franchise.
"The market in the R350 000 to R750 000 price range is growing but new developments typically offer building packages from R700 000 and up. There are thus good opportunities for developers who could bring cheaper units to the market."
Although development land is available, Schuld says prices have escalated sharply in the past year on the back of four new housing developments that are currently in the marketing phase.
"Infrastructure will also have to be improved to accommodate further development, but the local authority and local business are working together to address the issue. A hospital and retirement village are already in the planning stages."
Schuld adds that the tourism market is vibrant. "Hazyview has much to offer and has been identified as a satellite venue for the 2010 Soccer World Cup. The new Pabeni Gate to the Kruger National Park is just 10km from town and Hazyview is central to attractions such as the Blydepoort Canyon and the Sabie waterfalls.
"At least seven local tour operators are active in town and attractions include elephant rides, quad biking, river rafting, horse trails and abseiling. There are also many restaurants, B&Bs and lodges catering to tourists.
"Hazyview offers investors in holiday accommodation a wide selection. We currently have 10 B&Bs and lodges on our books at prices ranging from R1,8m to R18m," she says.