12 Feb 2009
Sasolburg, situated within the industrial powerhouse of the Vaal Triangle, is becoming increasingly popular among first-time home buyers.
It is also growing in popularity among those who commute to work in other areas within the Vaal Triangle, such as Vanderbijlpark and Vereeniging.
"Quality schools – pre-primary, primary and high schools – as well as a broad selection of sporting and cultural facilities and a sound medical infrastructure add to the attraction of this Northern Free State town for home buyers, particularly families," says Phil Medlock, Pam Golding Properties area principal.
"Over the past 18 months residential property prices have levelled out and these start at around R400k for a three-bedroom, one-and-a-half bathroom home with single garage located near the town centre, to between R750k and R1,2m in the prime areas of the town."
Medlock says Vaal Park, a popular suburb of Sasolburg which borders the Vaal River and has its own shopping centre, medical facilities and excellent schools, has shown a steady rise in property prices with a three-year growth trend of 18% per annum, and a current average price of around R670k. There are also a number of high-density apartment complexes in this area, mostly with three or four bedrooms and two or three bathrooms, with the more sought-after closer to the river and higher priced.
"There has been significant interest in commercial property in Sasolburg due to the demand for office space both from government departments as well as new business ventures. The two-storey FNB building in the CBD, which comprises approximately 800sqm plus basement, was recently sold for R4,2m to a group of investors. The new owners have already fully let the building and are presently also involved in negotiations regarding two further already tenanted commercial properties priced at R4,5m and R6,5m."
Medlock says in great demand are centrally situated commercial properties which have been converted from residential and which are priced from around R995k. "These are sought-after among entrepreneurs for office space with the majority of enquiries from black buyers seeking to either relocate or launch a new venture or those who conduct business with government departments."
At the northern boundary of Sasolburg the Vaal River area remains a popular weekend destination with residential property prices starting at around R700k for a two-bedroom, two-bathroom unit in one of the sought after sectional title complexes on the river with boat launching facilities, jetties, pools, tennis courts etc. In more upmarket complexes such as La Bella Casina and Boschenvaal, homes range from three-bedroom, two-bathroom units starting at R2,5m to very spacious eight-bedroom, four-bathroom homes which would cost in excess of R10m.
Image 1: This home in La Bella Casina in Sasolburg is suitable for two families and is priced at R4,2m.
Image 2: Situated within a complex in Vaal Park in Sasolburg, this home includes two bedrooms (en suite), open plan kitchen/lounge, garage and car port and is priced at R760k.
For more information contact Phil Medlock on 016 976 0095 or send an email.
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