"With most of the prime land in the west, north and south of Gauteng already taken up, developers have turned to Springs where land is still available - and at reasonable prices, in order to launch low to medium cost quality housing," says Chris Day, area principal for Pam Golding Properties, Springs, Witbank and Secunda.
"As this area continues to grow, the outer lying areas are being developed mainly with the focus on investment and rental opportunities - with home buyers still able to purchase homes in the affordable R500k price range."
In the suburb of Eastvale on the northern boundary of Springs near Benoni and within easy reach of the main freeway to Johannesburg and Witbank, two brand new adjacent residential developments - Outeniqua Village and Drakenstein –¬ are being marketed.
"Here sectional title units are available for purchase priced between R480k and R850k within a secure family lifestyle village, and well- situated just five minutes from the N12 (Johannesburg to Witbank freeway), making these homes ideal for those who commute daily across the East Rand," Days says.
"Such is the demand in this up and coming area - which is undergoing a transformation with upmarket modern homes springing up and home renovations continuing apace - that only 18 of the total units in the Outeniqua development remain available. This is despite the fact that both these developments are only just being officially launched to the marketplace.
"The developer has taken a different stance from other developers, selling units during the year in which construction takes place, and then only launching the last stock when occupation nears. He is currently busy with four projects and plans to begin four more during 2008. Having identified the type and cost of housing that people can afford to buy and rent in Springs, he has projects ranging from R80k for a unit to R1,9m for a mansion situated on the President's Dam, at the entrance to Springs."
"Surrounded by trees and with neat residential layouts, the attractive suburb of Eastvale is high on the priority lists of developers, who are scooping up vacant land. Current purchasers in the area are both investor-based, for rental and re-sale, with a fair amount of Springs buyers moving in as well.
"As second-hand residential stock prices stabilise, we are seeing the values of security complexes continuing to rise, further enhancing the investment potential."
The homes in the Outeniqua Village comprise two-bedroom units ranging in size from 85sq m and priced at R480k to three-bedroom units of 115sq m priced at R530k and R550k. The ground and first floor units each have two bathrooms, built-in braas, built-in cupboards, carports and parking bays, a garden or balcony and quality finishes. The development is walled and includes communal and children's play areas.
At Drakenstein Estate, 15 exclusive 203sqm sectional title duplex units are available, priced from R850k. The three-bedroom, three-bathroom units include a double garage with automated doors, as well as built-in braais, built-in cupboards, garden and balcony and spacious duplex stairway. No deposit is required for either of these developments.
During January and until the end of February 2008, agents will be on site on Saturdays and Sundays from 10:00 till 17:00.
For more information contact Glen Allan Thornhill-Fisher on 011 363 0303 or send an email.
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