21 Feb 2013
The City of Roses is home to the Supreme Court of Appeal, the Maphikela House where the ANC was established and is the birthplace of J.R.R Tolkien, the author of the “Lord of the Rings Trilogy”. The city falls within the Mangaung Local Municipality situated in the heart of South Africa.
What makes it attractive from a property point of view is the large variety in developments and the continual demand for accommodation created by the army base, hospital and university. These institutions supply a constant influx of people which adds to the thriving community.
“We’re seeing a lot of movement in the local property market. In fact we’re very busy at the moment and haven’t experienced too much of the slowness many other property markets are facing”, says Wynand Liebenberg, Principal of Leapfrog Bloemfontein. However, the market is sharing a similarity with the rest of the country in that the more affordable segment (R700 000 to R1.5 million) is seeing the most buying activity.
According to Lightstone, Dan Pienaar, property situated in the north of Bloemfontein is seeing young buyers aged between 18 and 35 with prices averaging at R1.515 million for a freehold property and R1.142 million for a sectional title.
The adjoining suburb of Arboretum has mainly sectional title properties averaging at R2.1 million and freeholds at R950 000, with data indicating that 40 percent of new buyers are between the ages of 18 and 35. Over 70 percent of the properties in Westdene are also sectional title close to R1.5 million.
To the south west is Universitas, a quiet area where house prices range from R1.23 million for sectional titles to R874 000 for freehold properties. Sixty percent of buyers are 49 years old and younger indicating it’s desirability for younger families with children.
Upmarket Waverley consists mostly of freehold properties with prices around R1.4 million and 20 percent of buyers are between of 36 and 49 year old.
Bloemfontein has more than 40 schools, some, like Gray College, are famous for their educational standards and traditions. It also has two universities and various private colleges. Liebenberg says they find the area has much to offer in terms of education, recreation and work opportunities. "Many people simply upscale within the town as opposed to moving to supposedly greener pastures like Cape Town or Johannesburg”, she says.
The area is well equipped for sports lovers with two soccer teams, the Premier Soccer League as well as Bloemfontein Celtic. It also hosts two rugby teams, the Central Cheetahs and the Free State Cheetahs, and it has a good spot for those who enjoy cricket, soaring and motocross (run by the Bloemfontein Off Road Club).
Clearly the town has much to offer in art, education or sport and in terms of property based on the diversity available as well as the demand for both homes and rental properties.
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