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S. African property investment potential on the increase
Recently placed on the market through Pam Golding Properties, Agricultural Division Paarl, is a 97ha farm which is on the market for R33 million. The farm is unrivalled not only in its position, but also in its irreplaceable buildings and architecture. But from an investment angle, the market is faring exceptionally well if some of the comments of operating estate agents are taken into account.
Ilmarie van der Berg of Seeff Beaufort West reports that the area offers good investment potential for buyers because of the different terrains, rainfall and various types of farms on offer. "Farming prices in the area have appreciated by more than 80% over the past three years."
Barbara Becker, area principal for Pam Golding Properties Nottingham Road, points out that the Balgowan and Nottingham Road areas are highly desirable for investment purposes. "In the KwaZulu-Natal Midlands region, demand is outstripping supply, resulting in some prices doubling in the past two years. Due to the escalation, the value of properties is difficult to assess as purchasers are still often prepared to pay more than the market-related prices."
Buyers in search of affordably priced vacant lots would do well to look to the Karoo. Wayne Rubidge, local Pam Golding Properties area principal based in Graaff-Reinet, reports there has been keen interest shown in vacant lots.
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