If you want to get into the property market or buy a second home, now is a good time to buy as interest rates are at their lowest in 30 years.

This Cape Dutch farmhouse dating back to the early 1800s has been sold by Pam Golding Properties for R4.7 million.

Estate agents say the consistently lower interest rates have slowly begun to create a more positive sentiment among buyers.

Tony Clarke, managing director of Rawson Properties, says prospective homeowners and investors should not leave buying too late.

The South African property market will be on a gradual recovery path towards 2012 onwards making it a good time to buy.

“I do not foresee interest rates rising by more than 1.5 percent in the next 18 months which augurs well for property sales prices,” says Clarke.

Buyers and investors who know good value when they see it and appreciate a bit of history that comes with the property are eyeing historic homes in the Western Cape.

In Mowbray, Cape Town, a Cape Dutch historic farmhouse was sold for R4.7 million by Pam Golding Properties (PGP).

According to Howard Markham PGP area manager for the Southern Suburbs, this is the highest price achieved in the area this year compared to R3.3 million in October 2010.

Markham says the property traces its history back to the 1800s and the land in which it is built on was once part of the Bloemendal Estate. The home was bought by an existing Cape Town resident.

PGP reports an increase in demand for historic homes in Swellendam halfway between Cape Town and George.

This 18th century thatched Cape Dutch homestead is a national monument, currently configured as an upmarket guest house. The property occupies just over 4 000 square metres. It is on the market through PGP for R2.999 million.

Many of these Cape Dutch and Victorian architecture style homes have been declared national monuments. These homes are aesthetically pleasing which piques the interest of buyers. They are charming with a sense of romance which attracts buyers with a keen sense of history.

Le Roux van der Merwe, Swellendam area manager for PGP says these properties are always in demand not only from South Africans but also from European buyers particularly the Dutch, German and Belgian visitors.

PGP says fully renovated historic properties can command a premium price given their suitability for use in the hospitality industry. – Denise Mhlanga

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