Buying a property
While Bloemfontein’s residential property market caters
for a broad selection of home buyers - with the majority purchasing a home as a
primary residence - there are several up and coming areas which are proving
popular with young buyers.
Properties currently in demand tend to be full title houses in the price
bracket from R800 000 to R1.2 million, as this is the more
affordable price range.
There are several suburbs in Bloemfontein which are performing well. Properties in
Langenhoven Park, and with statistics provided by Lightstone,
are majority owned by buyers, approximtely 30 percent, between the ages of 18
and 35 years, with just over 50 percent of properties sold in the area priced
between R800 000 and R1.5 million and with an average price of R1.033 million.
Registration figures for the period January to May 2011 (inclusive) reflect a
total of 87 units were sold. With a very high rental demand, this suburb is
ideal for younger buyers as well as investors looking to buy to let.
In Universitas, a
large, centrally located suburb close to all amenities such as schools,
university, shopping centres and hospitals and with numerous student houses, properties
are being bought by 38 percent of buyers who are in the age group from 36-49
years. For the same period as above 59 units were sold, with the majority in the
same price bracket as Langenhoven Park and with an average selling price of
R1.137 million.
Another trendy, new upmarket suburb which has high appeal for the more affluent
set, is Woodland Hills
Wildlife Estate, a very secure suburb with a good mix of properties with modern
finishes, all in the higher price bracket. These properties include sectional
title and full title homes, vacant erven and properties within a retirement
village. During the same period reviewed a total of 67 units sold with a total
value of R48. 072 million, however as a number of vacant plots are still in the
process of being registered it is estimated that the average price bracket would
be in the region of R2.2 million to R3.5 million.
An area which is experiencing good interest and selling mainly to buyers
relocating from outside Bloemfontein, or to those who are upgrading, is properties in Dan
Pienaar – an older northern suburb with spacious homes on large
plots. During the first five months of the year this area saw 67 units exchange
hands with the bulk of properties (55 percent) in the R800 000 to R1.5 million
price bracket, and with an average selling price of R1.203 million. Here the
majority of purchasers (30 percent) are between the ages of 50 and 64 years,”
he says.
Property sales in
Fichardtpark is doing relatively well with a total of 45
properties - with a total market value of R44.3 million - transferred for the
calendar year to date (2011) - are. The majority (45 percent) of recent buyers
being between the ages of 36 and 49, this area is experiencing a steady demand,
with the majority of property (87 percent) in the price bracket from R800 000
to R1.5 million. Factors influencing buyers to purchase in Fichardtpark include
the access to schools such as Fichardtpark High School and Primary School, and
close proximity to Jim Fouche High School, as well as the Rosepark Life
Hospital and a shopping complex.”
Properties in
Arboretum, one of the smaller, more exclusive suburbs in
Bloemfontein with only 20 full title and 101 sectional title properties, have
appeal for home buyers due to the area's location close to the Oranje
Meisieskool. With a few offices in the suburb, mainly occupied by some well
known legal firms and brokers as well as Vodacom and a bond originator, this
area has appeal for those willing to pay a premium for the location. One such
development is The Boulders, a very upmarket complex with very modern features
and finishes, which is sought after among young, dynamic professionals and
other successful business people.
With our team of Property Specialists and the properties that we have
listed we are able to show you the properties that will fit your
criteria and requirements. The success of our Property Specialists is
their ability to match buyers with properties and our sales in the past
are proof of our success in achieving this.
When navigating the
purchase of a property it is critical to have a property specialist
involved in the process to ensure that the negotiations are successfully
concluded and that all the necessary statutory requirements are
complied with. At Engel & Völkers you are ensured of our
professional and trusted approach throughout the purchase process.
You only live once - Let us show you where
