“With a diversified economy, this remains one of South Africa’s fastest growing towns , which is also strategically well positioned en route from Gauteng to Kruger National Park. A constant influx of contractors and other people to the mines and numerous industries operating in the area sustains ongoing, buoyant activity in eMalahleni’s housing market as well as fuelling the retail property sector.”
The retail hub of the Highveld, eMalahleni is home to the massive Highveld Mall - the biggest in the province. With tenants incorporating a mix of all the major national retailers, it also services all the surrounding areas such as Kriel, Ogies, Rietspruit, Bethal, Middelburg, Groblersdal and even Ermelo. As a result, retail space in the mall is highly sought after while retail accommodation in the CBD of the town is also popular among owner-occupiers and property investors.
The market currently most active is for homes under the R1 million and among first time buyers looking to purchase a home in this price range in new residential developments.
Says Swart: “The demand for accessibly priced housing is high, especially homes in the price band between R650 000 and R1.2 million in areas such as Model Park and Die Heuwel extensions, Tasbet Park and Extension 10, all of which are well positioned close to shopping centres and schools.
“First time buyers are particularly evident, resulting in several new flatlet type developments springing up to cater for an entry level market, in a similar price bracket ranging mainly from R650 000 to R1.15 million.”
In total, and in catering for this burgeoning demand, in the next few years just one developer alone is bringing to market some 3 000 additional homes across a mixed price range.
The rental market is also extremely active with houses and duplex units to let sought after across all areas and spanning a broad price range which varies between R6 000 and R15 000 per month.
Swart says in the upper end of the market the exclusive Bankenveld Golf Estate on the banks of the dam is most popular among affluent buyers as it offers an appealing and secure estate lifestyle which includes a nature reserve and golf course. “Here attractive, modern homes range in price from R3 million to R13 million.
“In the industrial property market, lots of investors are taking the opportunity to invest in well-priced properties, with light and heavy industrial experiencing the most demand. These range in size from 1 200 to 10 000sqm at prices varying from R2 million to R15 million.