About 4 km from the city centre in Bloemfontein, is Vista Park, not your typical traditional township – it does not have shacks or shanties that are a norm in some of South Africa’s major cities.
New homes in the suburb of Vista Park in Bloemfontein are priced from R695 000 for two bedroom units to R895 000 for three bedroom freehold homes.
It is an upmarket, modern suburb bordering on the traditional townships, which once complete, will include a very fancy shopping centre designed by an international developer, explains Mike Spencer of Platinum Global.
Spencer says the streets in Vista Park are neatly set out, featuring smart, well-built and sometimes huge double storey homes.
New homes
It is in this suburb that buyers looking for value can buy into the latest development in Vista Park with homes priced from R695 000 for two bedroom units to R895 000 for three bedroom freehold homes.
He says prices are in line with similar properties in the area and offer first class finishes and designs.
This development is located south of Bloemfontein, close to the traffic testing grounds and next to Ehrlich Park.
Asked who is buying into this development, he says people earning incomes of between R12 000 to over R20 000 per month and mostly Black young middle-class.
On whether construction of these homes has started, Spencer says the site is fully serviced and all that needs to be done is signing off of the project by the MEC of Human Settlements then transfer of erven can start.
The building plans can only be approved once the township is approved but most buildings have everything ready and are already selling, he says.
Priced for R510 000, this two bedroom house in Vista Park in Bloemfontein is selling through House Hunters. Click here to view.
Furthermore, he says the quality on offer is equal to what is being offered on any suburb in town and is the first time that good quality homes are being built for this market.
“The buyers of stands have been mainly cash buyers, which was a surprise to the developer of the township.
“We are getting most of these new buildings back to market as new houses and are again selling them in the same way, which is to the benefit of all the emerging Black estate agencies,” he notes.
New estate agents
Spencer explains that Platinum Global have been appointed to market the development, at the same time, the agency will train new estate agents in the area.
He notes that the biggest challenge for emerging estate agents is that they are out of the mainstream of the estate agency world and don’t have any mentors.
“We are able to provide this and I can see that their standards have risen considerably since they have been working with us.”
Basically, he says for this development in particular, his agency work through sub agents as they know the market better than Platinum Global.
“These are mainly BEE emerging agencies with various stages of registration and training but also single owned companies.”
He says through this collaboration, they have a total of 10 agencies working with Platinum Global, all with different levels of involvement.
To buy property in this development, email Mike Spencer. – Denise Mhlanga
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