08 Oct 2012
Economic factors such as rising fuel costs coupled with a general need for convenient access are seeing Vaal Dam leisure properties receiving renewed interest from leisure home buyers.
This is according to Phil Medlock, area principal for Pam Golding Properties (PGP), who says there’s no doubt that the increase in travel costs as well as the time constraints of today’s busy lifestyle are contributing to a desire to acquire a leisure property within quick and easy reach for weekend getaways and holiday breaks during the year.
He says they see this as a growing trend, with their current buyers mainly from Johannesburg’s northern suburbs as well as the East Rand areas of Boksburg and Benoni. Another reason for the increasing activity in Vaal Dam properties, he says, is the value for money of properties, however, one of the key attractions of the dam remains the good water quality and the vastness of the area even during peak holiday periods.
With a shoreline of over 900km there is plenty of space for boating and of course the scenic surrounds make this a highly appealing leisure destination for rest and relaxation, he says.
Medlock says there has been a significant shift in the market in recent months, with a number of properties being sold as second homes or leisure properties.
Waterfront homes still remain a priority for buyers, he says, and recent sales by PGP include a six bedroom waterfront home set on two hectares with exceptional entertainment areas and over 80 metres of waterfront, which sold for R4.5 million.
“Other notable sales by our office were a four bedroom house located in a secure complex in Deneysville, which was sold for R2.2 million, and an incomplete property in the same complex which fetched R1.2 million.”
All these properties were sold to buyers from the greater Johannesburg area who were looking for a holiday home within an easy 60 minute commute from the city – which the Vaal Dam offers, he says.
In addition to interest in the top end of the market, Medlock says they are also seeing growing interest from those in the R600k to R950k market.
“While these properties are not situated right on the water they are within easy walking distance and in most instances have a view of the water, while the dam can be accessed via numerous yacht clubs and marinas as well as day visitor areas.”
Medlock says further positive news is that the recently launched Ambermere Lifestyle Estate, set on over 300ha with elevated views from all the stands, has seen the completion of the first two homes. This is set to become the most sought after address on the Vaal Dam, he says.
In phase one, just 21 stands have been launched, each of which is two hectares in size and has 100 metres of waterfront, he explains.
“Prices in the first phase start from R750k for stands, while the first completed property is on the market for R2.95 million. No transfer duty is payable on either the stands or the completed property.”
Comprising 360 square metres, this completed home consists of four bedrooms (each with en suite bathroom), open-plan kitchen and lounge areas with stacking doors opening up to a large entertainment area with unsurpassed views over the water, says Medlock.
All the infrastructure on the estate is already in place, he says, and the first marina, with walk-on jetties, has been completed. Ideally suited to long walks and mountain biking, Ambermere Lifestyle Estate is fully game fenced and is currently being stocked with plains game, he says.
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