A three-bedroom house in the old mining town of Stilfontein in Northwest province will cost between R350k and R450k and is ideal for first-time home buyers says Jaco Faurie of RealNet in Klerksdorp.
He says that buyers from Potchefstroom, Klerksdorp and even Johannesburg have expressed interest in buying bargain properties in the town. It is 160km from central Johannesburg.
According to Faurie, a major new commercial development is being planned between Stilfontein and Klerksdorp and once completed will give local residents access to a regional shopping centre complete with offices and an industrial park.
Faurie says that houses priced at less that R450k are being snapped up by investors with cash resources. “For first-time buyers, Stilfontein offers excellent value for money,” says Faurie.
“For example, prices for a small townhouse in a secure complex in Klerksdorp start at R650k so the houses in Stilfontein are a bargain at between R350k and 450k,” he says.
He says there are bargains available in Klerksdorp itself but many of these homes need extensive renovations to make them comfortable.
“There is quite a bit of movement in the middle-income sector of the market. Here we are seeing an increasing number of homeowners selling at a minimal profit just so they can take advantage of the depressed market and upgrade relatively cheaply to more luxurious homes in Klerksdorp’s northern suburbs,” Faurie says.
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