14 Jun 2013
This is due to it having some of the best big five game viewing in the country. The town is also home to Hoedspruit Endangered Species Centre, a research and breeding facility engaging in endangered species preservation, most notably cheetah, African wild dog and the black-footed cat.
Tourism is a major contributor to the local economy, with civilian charter planes making use of the Hoedspruit Air Force Base on a daily basis. While the town has grown, it has maintained its rural charm which attracts residents and visitors.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says the area is a sought-after location among property investors because of its proximity to the Kruger National Park. He notes that while it offers the out-of-town bushveld experience, residents can still enjoy all the amenities one would expect in a contemporary town.
Data from Lightstone reveals that while property prices saw a dip in 2008, the town managed to come out of the recession reasonably unscathed. Property prices picked up in 2009 and continued to see a steady growth each year until 2011, with the average price of a freestanding home reaching a record high of R825 000.
While sales transaction numbers are not where they were during the boom, Goslett says demand has kept sales continuously ticking over. He says from 2010 to 2012, around 32 properties were sold each year. According to Goslett, an interesting trend in the property market is that nearly half of the recent buyers in the area are between the ages of 18 and 35 years old, while 50 percent of recent sellers are aged between 50 and 64 years old.
He says that the picturesque environment and rustic qualities of the region have boosted the demand for property, particularly those priced under the R1.5 million mark. The lifestyle offerings ensure continued demand in the area, which in turn means that investors are likely to see an excellent return on their property purchase over the long term.
The most sought-after properties between May 2012 and April 2013 were those priced between R400 000 and R800 000, making up around 39.1 percent of all sales during that period. Properties that fell within the R800 000 to R1.5 million category represented 21.7 percent of the area’s sales, while properties below R400 000 represented 34.8 percent. He notes that the smallest percentage of properties sold between May 2012 and April 2013 were those priced between R1.5 million and R3 million, which represented just 4.3 percent.
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