Phalaborwa, the quiet northern bushveld town bordering the Kruger National Park, is drawing quite a few investors who are buying retirement property.

So says Lelani Stucki of the local Aïda office who also reports that interest among this type of investor has picked up since the beginning of November and that she expects a busy holiday season.

"There are good bargains to be had right now as prices are under pressure and a number of properties are being offered on bank auction. Lifestyle and retirement buyers are, however, very selective and besides good value, they are in the market for home comforts. Because of the hot bushveld climate, pools and air conditioning are not negotiable as far as they are concerned."

Stucki adds that apart from the balmy winter temperatures, the proximity of the Kruger National Park and Mozambique and the rural atmosphere of Phalaborwa act as incentives for this type of buyer.

"The Phalaborwa gate to Kruger is just minutes from the town centre. The Mozambique border post is only an 80km trip through the park and the Mozambique coastline is about 250km away," she says.

Many of the investors buying units for their own retirement or for holidays come from Gauteng and they typically target properties from about R900k, she says.

Meanwhile, guesthouses and lodges around town are reporting brisk business at the start of the summer holidays. Lodges around the famous Hans Merensky golf course, where warthogs and other game are wont to wander, are particularly popular among tourists. Rates average R2,800 per night for units with up to four bedrooms and some units are for sale at prices ranging from R2,8m to R4m.

Stucki says that local buyers are quite active in the price range from R400k to R600k. "Many are first-time buyers employed at the local mines and are buying basic family homes."

For more information contact Lelani Stucki on 015 781 7930.

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