Nelspruit now a buyer's market

Over the past few months, the Nelspruit property market has evolved into a buyer's market and prices have stabilised.

Looking at rough price indications of homes in the Nelspruit area, entry level prices for homes range from around R550 000 for one-bedroom, apartment-type accommodation, while mid-level prices for homes are in the region of R850 000 to R1,2million for a family home.

"Homes in the R1,5million to R2million price range offer executive-type homes and the upper-level homes reach prices of approximately R4million," says Lynn Gobey, director and residential licensee of Fine & Country-Kellaprince, F&C's new Nelspruit office.

There is a demand in the area for vacant land, however as available vacant land is usually sold off in large segments it is mostly snapped up by developers. Looking at the buyer profile for residential homes, Gobey says that Nelspruit is the seat for the Mpumalanga Government and as a result has a steady influx of government employees filling positions and looking for accommodation. Family-oriented buyers feature prominently in Nelspruit's buyer profile.

There are a host of factors that make the Nelspruit area desirable for investment including the favourable climate and the surrounding scenic environment. "Nelspruit is built on numerous hills so generally most homes have a good view. The area is very much a cosmopolitan type city offering all of the large city amenities, yet has still managed to keep many of the small town qualities," notes Gobey.

Looking at the prospects that lie ahead for the Nelspruit property market, Gobey says that the area has seen continued growth over the past few years, and will continue to grow. "It is anticipated that the new deeds office will be opening in August 2007, bringing a large number of additional families into the area. The commerce community is expanding with many of the franchise-type businesses opening second and sometimes third branches. With Nelspruit being one of the venues for the 2010 Soccer World Cup we expect an influx of contractors in preparation for the event, as well as massive spending towards the World Cup. We also seeing more and more professional people moving to the area and we anticipate this trend will continue," says Gobey.

Fine & Country - Kellaprince will be marketing a few new developments and will continue to expand its operations in the residential sector. Over the past 10 years some R200-million worth of developments have been visualised, designed, financed and developed by Fine & Country – Kellaprince, including selling out 80 sectional title units in the Riverside Estate development to the value of R26-million. On the commercial side of things, the company completed a prime corner development with Tiger Wheel, Waltons and other retail stores to the value of R30-million. The residential property arm covers the full spectrum of services from townhouses, apartments and freestanding homes for sale and for rent. The residential letting department is the largest in Nelspruit and employs three fulltime staff members.

For more information contact 013 7544400 or send an email. Click here to visit the website.

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