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A walk on the wild sideAnnie, who has worked in the Hoedspruit real estate market for the past 11 years, says that despite the recent flooding in the area, Hoedspruit remains a sought-after node among property investors. “The location of Hoedspruit is perfect for investors looking for an out-of-town bushveld experience, while still enjoying the amenities they could take advantage of in a metropolitan area. Most of buyers are purchasing property as a home away from home, without the hustle and bustle. While the buyers in the area range from all walks of life from single moms and young families to retirees and international investors, all have one thing in common – a love of the African bushveld,” says Annie.
She notes that because the town borders the Kruger National Park, which is always a draw card for tourism, it ensures that investors will see a good return on their investment if they decide to sell, alternatively, there is always the opportunity to rent the property out to other holiday-makers. Annie says that the bushveld properties, riverfront properties and those closest to the Kruger National Park, are likely to see the largest value growth over the next few years.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says that many investors purchase leisure property in areas that are often very different to the lifestyle they experience at home. The rustic qualities of Hoedspruit and the bushveld environment have fuelled the demand for property in the region, which has continued to grow from strength to strength over the past few years.
According to Annie, although the majority of the buyers in the area are affluent leisure investors, homes that are under the R2 million mark are generally more sought-after than the higher priced properties. “However,” she says, “properties that are in the top-end of the market that are selling at perceived bargain prices will also be attractive to those who can afford them. Most of the top-end properties have retained their value, particularly those in wildlife estates, but in some cases buyers can still find properties for prices relatively lower than the market standard.”
She advises buyers that whether they are purchasing a property as their primary residence or as a leisure investment, the same rules apply. “The importance of researching all possible options on the market can’t be over emphasised. Buyers must do their homework and have an idea of what is on offer in the specific area they are looking to purchase in. This way they can compare apples with apples and recognise a good investment when they see one. Ask the seller questions, such as their reason for selling and how long the property has been on the market. It is also important for buyers to look at the additional costs and maintenance requirements of buying a leisure home before they sign on the dotted line,” Annie concludes.
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