Vaal property is still popular, a fact proved by the R2.3m sale of a plot bought in 2003 for R400k.

An area which has really come into its own despite the prevailing trading conditions in the property market is the Vaal River/ Vaal dam area in Gauteng. In fact, sales of property on the upper Vaal River below the dam wall remain buoyant with growth in property values still in excess of 60 percent year on year, as more and more people discover the uniqueness of this stretch of prime land, says Phil Medlock, area principal for Pam Golding Properties.

"We are currently receiving numerous enquiries, mainly from Gauteng and East Rand residents who are seeking weekend breakaway properties, as well as a growing number who are seriously looking for river property for permanent residence - commuting to the city of Johannesburg an easy 50 minute drive away," he says. "For such buyers the quality of their leisure time is increasingly important as they desire a more balanced way of life away from the stress, noise and crime levels of the city."

Medlock says the Vaal River and dam area caters for a broad cross section of buyers, with prices on the river starting at around R850 000 for a two bedroom apartment in one of the many complexes to over R10 million for a freehold estate. "Currently the most popular price range is in the R850 000 to R4 million bracket. Value for money is still to be had and right now we are marketing an exquisite two bedroom, one bathroom, fully furnished, open-plan apartment with boat storage and river views for R1.19 million. All the complexes offer excellent amenities such as swimming pools, tennis courts, slipways and jetties offering the ideal lock-up and go lifestyle complete with over 50km of Vaal River to explore."

Medlock says although vacant development land is scarce his office has possibly the last vacant five hectare plot on the market for R8.5 million. "Final approvals are expected shortly for the development of a total of 60 units which will include seven prime waterfront stands."

At the recently launched Cote De Val Estate, situated on a four kilometre stretch of boatable water below the Barrage Dam wall, 1000sqm sectional title stands are priced from R650 000 to R1.5 million. This development is accessed via the N1 or R59 and is also just 50 minutes from Johannesburg. With all services for the estate now installed and transfers taking place, the first homes have been completed, including the show house, which is on the market priced at R3.5 million, negotiable. The four bedroom, three bathroom show house has superb finishes throughout and spectacular river views.

In the increasingly popular area on the upper Vaal River below the dam wall, waterfront plots of five and nine hectares start at around R1.4 million, offering outstanding fly fishing water and bird life, with the added bonus of the Vaal dam and waterfront village of Deneysville a mere five minutes' drive away.

PGP recently sold a 3.5ha ha river plot in this area for a record price of R2.3 million. The sellers purchased the property in 2003 for R400 000 - an exceptional return in a short period of time.

Medlock says ideal for a developer is a 800ha farm on the upper Vaal River with both deep boatable water and fly fishing frontage, marketed at R40 million. "This is a rare opportunity to acquire what is the last waterfront farm of this size in this sought after area of the river," he says.

Photo: This home in Cote De Val, a lifestyle estate on the banks of the Vaal River, is on the market at R3.5 million.

For more information contact 082 784 7355 or 016 976 0095 or send an email.

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