Leisure properties : Property sales on the Vaal Dam brisk again

With summer well on its way, Pam Golding Properties reports that leisure home buyers are re-emerging, with property sales on the Vaal Dam brisk over the past three months.  Phil Medlock, Pam Golding Properties (PGP) area principal, says astute investors are snapping up not only well priced waterfront homes but also those within walking distance of the dam, with the bulk of sales mainly in the price-range between R1.45-million and R3-million.

They have realised that the timing could not be better for acquiring a holiday home as in the current economic trading conditions they are able to purchase very appealing properties for around 20-percent below original list-price.  We saw a dramatic increase in purchases over the last year, with the majority comprising cash buyers, and the balance with sizeable deposits  to the extent that we have not had any rejections where mortgages were required. We are finding that our buyers know what they are looking for and exactly what they need to budget.

Convenience
Those seeking leisure properties are also tending to look closer to home for convenience  evidenced by the fact that all our recent buyers have been from the greater Gauteng area.  Medlock says while prices of waterfront properties generally start at around R2.3-million, PGP is currently marketing a seven-bedroom home with its own private waterfront and situated in the popular and well established Castle Marina Complex in Deneysville, at a reduced price of R1.95-million.

This is exceptional value-for-money as the property can easily accommodate two families. Essentially it comprises two full properties with two kitchens, four bedrooms downstairs and three bedrooms upstairs  with a separate entrance, as well as a huge garage.

Secure upmarket estate launched
Medlock says that, while the sale of vacant waterfront land remains slow, the October (2011) launch of the 300ha, secure Ambermere Estate on a prime location on the Vaal Dam will boost sales.  Each stand has a minimum of 100m of water frontage – overlooking the confluence of the Vaal and Wilge Rivers. This is one of the only portions of the dam which are not flat, thereby providing elevated views of rolling hills and indigenous grasslands over the huge expanse of deep water.

This is coupled with grassed embankments, sandy beaches, two marinas and numerous indigenous trees, making this a one-of-a-kind development with an array of water sports activities available.  All the stands will be at least two hectares in size, and with a total of only 62 stands there will be an abundance of open space for leisure activities such as walking, cycling or horseriding, while the estate is currently being stocked with small game. The launch price for stands in Phase One starts at
R750 000, with all costs included.
Source:vaalweekblad.com