The biggest movement in the Phalaborwa property market is properties in the R480k to R800k price range, while some sell for around R1,2m.

So says Glenda Fourie, broker/owner of Phalaborwa’s RE/MAX Two Summers office, who adds that at the lower end of the price range, the properties are typically old mine houses which are very basic and usually include three bedrooms, one bathroom and a single garage.

“Properties priced from R800k and upwards usually have three or four bedrooms, one or two bathrooms as well as a lapa and a swimming pool. The stands are also located in more upmarket areas of Phalaborwa,” she says.

She says fully furnished lodges that have been designed with two to four bedrooms sell from around R2,9m all inclusive. She says most of these homes have swimming pools and overlook the golf course or dams.

“Buyers can expect to pay between R3,6m and R5m for a four-bedroom home within the Hans Merensky Country Estate. These more expensive homes will have four bedrooms, a boma and an outlook point on the property.”

Talking about the property market in Phalaborwa overall, Fourie says that so far this year her office has already concluded three quarters of the amount of deals concluded for the whole of 2009. However, she says that there is currently a lot of stock available due to the Sasol plant which closed down.

“There are quite a few old mining houses for sale which are priced between R550k and R900k. Some of the manager’s homes, which are more luxurious, are also on the market, but are priced up to around R1,8m,” she says.

While Fourie reports a definite difference between asking price and the actual selling price of homes in the Phalaborwa area, she says many of the homes currently on the market were bought from the mining companies at a relatively cheap price, meaning owners who are currently selling are making a reasonable profit.

She says that unlike Phalaborwa where a lot of stock has recently been put on the market, there are reports of stock shortages, particularly for properties priced between R900k and R1,2m in certain areas. “Residential properties in the R1,2m price range currently sell within six to eight weeks and demand in certain areas outstrips supply.” – Eugene Brink

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