"Buyers are renovating these properties and then letting them for between R3k and R5k pm. Demand for this type of rental has boomed," says Johan Barnard, principal of leading local agency Homenet Brakpan.
He also says that sales activity overall is increasing once more. "Enquiries are coming in daily and an optimistic mood is palpable throughout the market thanks largely to lower fuel prices and the latest interest rate drop.
"Evidence of an upswing usually manifests in the lower end of the market first and that's what's happening now. Many who were on the fence are now committing to purchases, particularly in Brakpan Central, Dalpark Six and Eleven."
On the other hand, Barnard says there is still too many overpriced properties on the market and that cluster sales have stalled somewhat.
A new mixed-use node is currently being constructed on the periphery of the town to cater to the emerging sector.
For more information contact Johan Barnard on 011 740 0987 or click here to visit the website.
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