Expanded iron ore mining activity near Kathu has boosted this Kalahari town's property market.
Demand for rental property is sky-high, says Riekie Terblanche of the Aida Kalahari franchise's local Kathu office. "Rentals have, however, come down from the exceedingly high levels of last year when the mining houses paid up to R36k a month to house top professionals who were involved in commissioning the new open cast mines.
"The focus has now shifted to rental accommodation for mineworkers and three-bedroom family homes are realising rentals of between R3,500 and R4,500 a month. Top quality furnished homes still realise around R11k among seconded staff at managerial level, who typically make use of the air shuttle service to spend weekends with their families."
She adds that rental demand has also stimulated upgrades and extensions. "Many residents are turning outbuildings into cottages or building new cottages on their large stands. Rentals for these units range between R2,500 and R3k a month."
New developments on a larger scale are also starting to make an appearance. One of the larger developments, Khuduyane Estates, offers about 50 units on a plot-and-plan basis at R850k for the 140sqm units on stands of about 370sqm.
Terblanche says the town's new found prosperity has also prompted the development of a large shopping centre, Village Walk, that opened at the end of November. The complex houses some 70 retailers.
For more information contact Riekie Terblanche on 053 723 1048 or send an email.
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