Luxury sells in George
at the upper end of the market are still selling well in George on the Garden
Route, says Gerhard Hoepfner, new owner of the local Aida franchise.
Units in golf estates and smallholdings are in particular demand and buyers with cash or access to finance are targeting top end properties. The lifestyle and security are attracting especially buyers from Gauteng who want to trade city life for rural tranquillity. Many of them settle their families in golf estates and commute to their city offices during the week, he says.
Hoepfner adds that George and its surrounds have gained a name for providing luxury living on golf estates, with at least five courses in and around town.
Prices of cluster units in these estates start at around R1,5m but buyers are currently attracted to larger properties at R3m and up, with R5,5m being the average price paid.
This class of buyer is also targeting smallholdings in the area, he says. And once again, lifestyle is a major factor. Buyers with equestrian dreams like to settle on smallholdings, many of which offer top notch homes and excellent stabling. One on our books, for example, offers a four-bedroom, four-bathroom home, two staff cottages and ample stabling on 5ha for R4,5m.
Stands in the Chandelier game farm about 11km from Oudtshoorn are also finding favour. These are available from R900 000.
Hoepfner says there is also currently good value to be had at the lower end of the market. Two bedroom flats in the centre of town are selling from about R500 000 while older family homes are available at prices of just more than R1m. Prices of newer units in town start at the R2m mark.
George will remain a perennial favourite among holidaymakers and retirees thanks to its setting and lifestyle and any property here is likely to remain a good investment for years to come, he says.
Article by: www.aida.co.za