Property prices in the Eastern Free State are climbing sharply in contrast to the rest of the country where prices are levelling out.
In some cases, prices have all but quadrupled in less than a year, says Ms Lumè Streso, area agent of Aida in Ladybrand near the Lesotho border. Homes which had sold for R100 000 in September, when Aida opened an office in the town, had recently sold for prices of up to R950 000, she says.
According to her, other towns in the region, such as Clocolan and Ficksburg, and smaller towns such as Hobhouse, Tweespruit and Excelsior, also showed tremendous growth.
Homes in Ficksburg which had sold for R100 000 less than one year ago, are now going for R400 000 or more. In one case, a house was sold for R600 000 after renovations were done, she says.
"And the prices are still rising," she says.
The market in Hobhouse, which is about one hour's drive from Ladybrand, is being kept alive by rumours that a bridge over the Caledon river is in the pipeline, to connect the town to a neighbouring town in Lesotho. Erven in that town is selling from R5 000.
The strong growth in prices is supported by buyers and investors from the neighbouring Maseru and other parts of Lesotho. – Elma Kloppers
Article courtesy of Beeld.
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