Kimberley isn't only famous for its Big Hole – it's also the capital of the Northern Cape and a place where property is becoming increasingly sought after. By Peter van Noord

Those who believe that Kimberley's hole is its greatest – or only – achievement are mistaken because the capital of the Northern Cape has a long list of firsts: it was once the seat of South Africa's first stock market, it is where the country's first flying school was established and the city claims that it was the first in the southern hemisphere to use electric street lights. Still, it is Kimberley's diamond-mining history and the accompanying big hole that have made it famous the world over, although the beginnings were very humble. In 1866 a youngster, the 15-year-old farm boy Erasmus Jacobs, picked up a 'beautiful stone' on the banks of the Orange River. He gave it to a neighbour, Chalk van Meeker, who arranged for the white stone to be examined – and the finding was astonishing: it was a diamond of no fewer than 21,77 carats, which was christened Eureka. A number of diggers descended on the town but the findings were not great until three years later, when Van Meeker bought another shiny stone from a shepherd – this time it was a whopper of 84 carats. The price? Ten oxen, 500 sheep and a horse. The discovery of the 'Star of South Africa' resulted in a much bigger influx of fortune seekers but, once again, the findings were average. That is until, in July 1871, one Fleetwood Rawstorne accidentally discovered the richest diamond deposit on a hill called Colesberg Kopje. People descended from far and wide with their picks and spades – and the hill eventually became a giant hole. Among the 50 000 fortune hunters who arrived in search of 'splinters of fallen stars', as the Romans used to call diamonds, were Cecil John Rhodes and Barney Barnato.

Only much later, after Rhodes had coughed up five million pounds for claims that belonged to De Beers and Barnato, did peace and calm finally descend on Kimberley once more.

Rural capital
Today, according to Lizette Marais from Seeff Properties in the city, Kimberley is a capital with a rural atmosphere. 'It's quiet and still quite safe. The business centre is expanding a great deal and a lot of people are currently being transferred here.' As far as property is concerned, it seems as if the runaway train has finally been brought under control in this area. 'Over the past two years there has been such an unnatural increase in property prices that we are now definitely seeing a stabilising phase. The market is still active but buyers are generally more cautious.'

What do you pay?
'Prices were very high in 2002 but last year they became more realistic,' says Lizette. 'Bargains are hard to come by but, in the lower price range, you can sometimes still get lucky. 'Due to the history of the diamond city, the older suburbs such as Belgravia and Carington Road are much sought after. Monument Heights abounds in trees and Royldene is a newer area in which property is in demand. Price and the client's needs determine how popular an area is, so you never get an exclusively bad or good area.'

Kimberley is popular among investors but commercial properties and apartment blocks are expensive and very hard to come by. 'In Kimberley owners still get a good rental income on their investments,' says Lizette. 'Because the city has been behind for years as far as developments are concerned, the prices have been sky high. Two shopping centres are now in the pipeline, as well as a luxury security complex that will consist of about 300 plots. The Magersfontein golf course is the pride of our region.'

Lizette's advice to beginners is short and sweet: just buy something – even if it is a cheap property that you do not plan to live in yourself. 'And you can rent it out to receive an income but always make sure that your offer is subject to the valuation of the property and approval of a bond.'