PROPERTY
E H T R O F D A E H A E R U A BRIGHT FUT ARKET
M Y T R E P O R P P I H S TOWN y ing, and the time to bu Kasi property is boom
is now
E
veryone dreams of buying a reasonably priced home in a good, safe area but there are not many affordable properties available in major urban areas. The property market has indeed reached a point of saturation in metropolitan areas, forcing developers and property companies to look elsewhere for opportunities but, while the township property market has long been misunderstood by many in the property industry, the value and potential within this previously ignored market segment has finally been uncovered and is growing rapidly. Township property prices are rising much faster than the rest of South Africa’s residential market, according to the First National Bank (FNB) house price index. Townships now boast significant developments and the building of malls and shopping centres also boosts the market. Houses that were previously worth R300 000 have grown in value to reach R500 000, because they are located next to a mall. Infrastructure is improving at a rapid pace and the new developments cater for different income groups. Integrated townships are proving a win-win for both buyers and developers as the demand for residential, commercial and retail elements complement and feed off each other. As a first-time buyer chasing after price and value, the Kasi is the place to buy at an affordable price, and you get the added benefit of being part of a vibrant community. Township developments offer the latest amenities at a relatively low price and township developers are attracting buyers with concepts such as Tuscan roofs and big stands for future extension if needed.
Why buy in the township? • Buyers get properties at affordable prices • The availability of essential infrastructure • The availability of lifestyle amenities • Residential and commercial properties create demand for each other • Better opportunity for rise in value than in metropolitan areas 60
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