Even though property prices in the Karoo's flagship town, Graaff Reinet, have doubled and even tripled since 2004, there is no shortage of buyers, many of whom are relocating from Gauteng and the Garden Route.

"The real estate boom experienced along the Garden Route and in other parts of the country has still to hit the Karoo," says Wayne Rubidge, principal of the Karoo division of Pam Golding Properties. According to him, property purchasers in all price ranges and from all over the country are flocking to Graaff Reinet, drawn by its top schools, low crime rate, rich cultural and architectural heritage, and picturesque setting within a fertile horseshoe created by the Sundays River.

Unlike most other areas, its rapid house price growth has made little dent on real estate activity. That's despite its character Karoo "huisies" - small two or three bedroom houses with yellowwood ceilings and floors - selling for upwards of R550 000 if and when available. Rubidge adds that buyers are ready to spend anything up to R1,2 million on a home in the Eastern Cape's oldest town, the only one in the country to be completely surrounded by a national park namely the Cambdeboo National Park.

"The Karoo is experiencing a whole new dynamic, characterised in part by the steady relocation of people from neighbouring villages to Graaff Reinet and other regional centers of the Karoo, giving impetus to the growth of the town centre."

In addition, he says traditional agricultural and cattle farming is making way for new-style game farming and leisure undertakings which are fueling the growth of associated industries and in so doing, Graaff Reinet's economy. There is also a growing circle of what Rubidge calls "social investors" in the town, including some of South Africa's "who's who" from the business and farming sectors. These people are buying up local guest houses at the best addresses and then networking and socializing among each other on a regular basis. It's likely to be someone from this circle, if not a foreigner, who buys the Stockenstroom Guest House, he predicts. On the market for R3.8 million, Rubidge says the fully restored and furnished building is generating intense interest from both an intrinsic heritage point of view as well as its 80 percent occupation levels.

Graaff Reinet, which amongst its many claims to fame, boasts more national monuments than any other town or city in South Africa, is also known for producing high calibre leaders and businessmen. These include GT Ferreira and Dr Anton Rupert, who before he died, was instrumental in the creation of the Camdeboo National Park. Within the park is a recently upgraded airstrip, which Rubidge hopes will get the go-ahead for regular commercial charter flights in the near future. When this happens, he expects a further upsurge in property market activity as Gauteng business people relocate their primary residences to Graaff Reinet and commute to and from Gauteng on a weekly basis.

With its healthy climate, community atmosphere and good medical facilities, Graaff Reinet is also drawing a steady clientele of retirees, whose accommodation interests are being well served by existing and pipeline retirement developments. Rubidge says the units are generally priced to allow them to put money in their pockets after selling up in the big cities and then purchasing locally.

On the residential front, he says that around 60 percent of buyers want historical homes which are in short supply. Some of these properties are selling even before being listed on the market, a case in point being his company's recent sale of a restored three bedroom, single bathroom house for R640 000.

Rubidge expects the proposed upgrading of the Graaff Reinet Golf Club, which sits alongside the Camdeboo Nature Reserve, to further stimulate market activity. The development has been given the green light by the townsfolk and the local authority, he says, provided it sticks to strict architectural guidelines and is priced so as to be affordable for local residents.

There is also rising demand from the town's up and coming middle class who tend to work in provincial, police and hospital posts. They are finding best value for money in suburbs such as Spandauville, where homes are newer and priced from R500 000 upwards. Outlying suburbs such as Adendorp and Bergsig are also gaining in popularity, and their basic architecture is compensated for by scenic mountain views, spacious erven and good bricks and mortar value, he concludes. – Ingrid Smit

For more information contact Wayne Rubidge at 049 892 3495 or send an email. Click here to visit the website.

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