Northern Cape and Kalahari property value attracts millennials
Category Property Markets
One of the biggest attractions of the Northern Cape property market is affordability, says Ian Badenhorst, MD for Seeff Country and Karoo.
Here, you can still find value in the R400 000 to R1.5 million range despite the robust price growth of up to 20% in many areas during the 2015 to 2017 market upswing. Rentals still average in the R4 500 to R8 500 per month range.
Interestingly, the area still attracts a great deal of millennial buyers, especially in the Kalahari region where on average some 40% of buyers are under 35-years. In the Upper Karoo (Colesberg) region, it is predominantly older buyers above 50-years who are active in the market. Family buyers find excellent value and a wholesome environment to raise children here.
Despite being the largest province, the Northern Cape is sparsely populated. It is characterised by a healthy climate and spectacular landscapes, from the fertile Orange River to the dusty arid landscapes of the Kalahari and beautiful flowers of the Namaqualand region, a quintessential African landscape.
Green Kalahari – Upington, Kakamas and Danielskuil
Marelize Swarts, an agent from Seeff Upington says the market has been active around R800 000, but also at the top-end R4m range and Seeff achieved a highest residential price of R3.8m. Guest houses are popular, priced around R7m and there is also demand for commercial buildings in the R10m range.
The town offers modern amenities including an airport, shopping mall, hotel, casino, restaurants including Spur and Dros. The Orange River runs through the town and is a big attraction. The town is also a popular stop-over for tourists and provides easy access to the Kgalagadi Transfrontier Park and Augrabies Falls.
Kakamas is a small town just over an hour’s drive from Upington and includes attractions such as Riemvasmaak Hot springs and the Khamkirri Orange River Lodge. According to Waffie Smit, an agent with Seeff, the town attracts buyers from all over and offers a wide range of options from small holdings and lodges to farms. The highest price achieved is R49,4m.
Danielskuil, about three hours from Upington attracts a city people from Gauteng looking for a quiet country life as well according to Sandy-Ann Alberts, an agent with Seeff. The highest price achieved here for a house is R1.8m and R2.7m for a commercial hotel. An average family home with a pool sells for around R1.6m to about R2.6m for a luxury double storey house.
Kalahari region – Kathu and Kuruman
The Kathu property market has been stable according to Melanie Louw, an agent with Seeff. Aside from 2-4 bedroomed houses, the town offers developments consisting of security complexes, the Kalahari Golf & Jag Landgoed, Lattakoo Estate, Rooisand, Smartie Town and “old Kathu”. House prices range from R410 000 to R4m with the highest price achieved by Seeff last year being R3.3m. Due to the high demand, rental rates now range from R4 500 to as much as R45 000/month for a high-end home.
Kathu has one of the largest open-cast iron ore mines in the world. Another point of interest is the Kalahari Country Club, one of the most beautiful golf courses in the country with part of it lying in a camel thorn forest on the edge of the desert. The 18-hole course hosts the annual Kalahari Classic and second stop on the winter leg of the Vodacom Southern African Tour.
The Kathu Equestrian Club offers 65 walk-out stables and paddocks and stables around 53 horses. It also has two dressage arenas under the Camel Thorn trees, a jumping arena and outride area adjacent to the wildlife camp. Gamagara Guest Lodge is another landmark in the area.
Kuruman, about 50-minutes’ from Kathu on the edge of the Kalahari and is known as the ‘oasis of the Kalahari’ for the natural fountain in the centre of the town, known as the Eye (or Ga-Segonyana) which delivers 20 to 30 million litres of water daily to the village.
According to Lochna Swartz, an agent with Seeff the highest price achieved for a residential property is R3.8m. The village is also ideal for farms as well as commercial opportunities.
Upper Karoo - Colesberg
Colesberg in the Upper Karoo is seeing an influx of older buyers looking to retire to the countryside with mature buyers comprising 60% of the market and under 35-years, only 5%. Given that residential property is available from R400 000, the town is an ideal choice for retirement, says Elza Kapp, an agent with Seeff.
The town is a popular stop-over on the N1 and ideal for hospitality properties. Seeff for example sold a guesthouse for R4.7m, but you can find guesthouses from R2m, lodges from around R17.5m and farms in the R14m to R58m range.
There’s plenty of attractions including the Inni Kraal Restaurant, recently awarded a Certificate of Excellence for 2019. There is also a 9-hole Gary Player designed golf course and the nearby Gariep A Forever Resort on the shore of the Gariep Dam is also an attraction.
Photographs enclosed:
Kakamas – R13.5m for a beautiful 4733ha farm and lodge with a liquor licence, game which includes Oryx (30), Springbok (100), 20ha business rights and plow certificate for 60ha and more
https://www.seeff.com/results/residential/for-sale/upington/augrabies/farm/19820/
Kathu – R2.99m for a modern four-bed home in the sought-after Kalahari Golf and Jag Landgoed which includes facilities such as golf, tennis, squash, and a gym. The estate is situated in the largest Camel Thorn forest in the world and adjacent to a 2400ha game reserve with Kudu, Oryx, Red Hartebeest, Waterbuck, Impala and Springbok which can be viewed by appointment.
Colesberg – R1.205m for a stunning four bedroomed Cape Dutch homestead with quality finishes, a lovely front veranda, sash windows with wooden shutters
https://www.seeff.com/results/residential/for-sale/colesberg/colesberg/house/58670/
Author: Gina Meintjes
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