10 Dec 2012
Any buy-to-let investment in the Kloof area is likely to be a sound one.
This is according to David Hitch, Rawson Properties’ residential franchisee for the area who says the rental team in his area are inundated with enquiries for both apartments and freestanding homes in Kloof, Gillitts, Hillcrest and Waterfall.
“Today’s enquirers are often able to pay R8 000 to R12 000 per month for a freestanding home and rents of up to R25 000 per month are not that unusual. Even garden flats are achieving rents of R3 000 to R5 000 per month.”
Asked why people able to afford such sums do not go the whole way and buy outright, Hitch says three factors influenced them: a shortage of sales stock, a desire (in some cases) to live debt free and without the responsibility of paying bond repayments, rates and maintenance costs on a property and, thirdly, poor credit records which debar applicants from getting bonds.
The good news, he says, is that in their franchise they can and do help clients to clean up their credit records and reinstate themselves. He says this is not always as difficult as many imagine, provided people take their advice.
The Kloof precinct, with its cooler climate and ‘leafy’ residential areas has always had a prestige value that is matched only by the Umhlanga and La Lucia areas of KZN. This, he says, has ensured that house prices have always been ‘resilient’ and that many KZN people see this as the area where they should upgrade.
Asked to give three examples of homes that are currently on the market, Hitch says points to a four bedroom, three bathroom home in Langford, Hillcrest Park priced at R3.3 million. This gracious home has modern, tasteful finishes, high ceilings, a double-sided fireplace and a salt water pool.
Another Hillcrest Park home priced at R1.85 million, offers three bedrooms and borders onto the Springside Nature Conservancy, which has an indigenous forest and grasslands that are open to walkers.
A third home on the market is a three bedroom, two bathroom home sited in a prime Kloof area.
This, he says, is one of those almost baronial, large, double storey homes for which Kloof has always been known. And it has a ‘granny’ flat above the double garage. This home is priced at R3.5 million.
For those who are looking for a property that can provide them with income, the Rawson Properties Kloof team can point them to a 50 ha farm at Thornville/Bainesfield currently on the market at R3.5 million. This property has five bedrooms, staff quarters for six people, orange, naartjie and avocado orchards, seven chicken sheds, workshops and an office.
The house has its own water supply from two boreholes and two storage reservoirs. Certain farm equipment is also available for sale.
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