The franchise rights have been acquired by partners Willie Thirion and Mario Grobler, who also own the Homenet Vaal Dam office, which opened in November last year.
The new office will be known as Homenet OR Tambo because of its proximity to Johannesburg's international airport and will be active in the residential, commercial and agricultural sectors of the market. It will also have a rental department.
Grobler says market analysis shows that the Kempton Park residential market is worth R1bn annually. "Although the area is served by about 80 different estate agencies employing around 800 agents, there are sound opportunities in this market and we foresee solid growth thanks to factors such as the Gautrain and expansion of business activities around the international airport."
He says a large part of the office's client base is the upcoming middle class because Kempton Park is virtually encircled by industrial areas such as Spartan and Chloorkop and there are many job opportunities for local residents.
"The town is also seen as a cheaper alternative to Johannesburg's northern suburbs by buyers who are prepared to commute to work in those areas."
Local property prices start at around R400 000 for units in new developments near the centre of town while resales start at around R450 000. Most homes and townhouses sold fall into the R800 000 to R1m price range.
Prices in the luxury suburban market range between R2m and R5m while smallholdings in the Pomona area sell at prices of between R2m and R12m.
There is great variety of smallholdings. Some have business rights, others are used for bona fide agriculture and yet others are lifestyle options.
Grobler adds that property prices are currently under pressure, which favours buyers. "Statistics show that last year properties sold at an average of 2% lower than asking prices. The gap has since widened to about 10%."
Grobler, who holds an MBA and an LlB, has a private banking background and specialised in financial services before entering real estate, while Thirion holds a doctorate in theology. Thirion went into partnership with Grobler when he opened the Homenet office at the Vaal Dam and has converted his existing Kempton Park agency, previously known as Thirion Properties, to the Homenet brand.
For more information contact Mario Grobler 011 975 6338 or Click here to visit the website.
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