Gems to be found in Mogale
Young homebuyers with their eyes peeled for a bargain could do worse than look in Mogale City (Krugersdorp) on the West Rand, where there is currently an oversupply of stock for sale.
So says Annette Breytenbach of the local Chas Everitt International franchise, who notes that home sellers in the town are currently more than willing to negotiate and that some are even prepared to sell for less than they owe on their home loans and pay in the difference themselves.
But this does not mean that their properties are not worth buying. Originally a mining town, Mogale City is full of reminders of its “glory days” – among them many characterful mine houses that have been carefully refurbished and restored.
“Such houses are usually generously proportioned and offer fantastic value for money,” says Breytenbach. “Homes in the West Village area, for instance, can be bought for between R600 000 and R1m.”
And, she says, the area can be expected to become more fashionable as more buyers catch on to the delights of Mogale City – including the fact that it is just 35km from Johannesburg and 40km from Pretoria, and close to Lanseria Airport.
Meanwhile, other areas of Mogale are faring well with price tags as high as R1,6m being asked for homes in the area of Randjieslaagte.
“Mogale also offers residents all the benefits of living in a city, such as convenient shops, top schools and excellent sporting amenities, without the disadvantages. Our crime rate is relatively low and our neighborhoods are quiet.”
Tourist attractions near the city include the famous Krugersdorp Game Reserve, the Cradle of Humankind, the new Silver Star Casino and of course the Sterkfontein Caves.
From the point of view of potential investors, Breytenbach says the residential rental market in Mogale has “taken off” recently, with landlords getting as much as R6000 a month for basic rent, and that there is also fairly strong demand for commercial property in the area.
ISSUED BY CHAS EVERITT
FOR MORE INFORMATION CALL
ANNETTE BREYTENBACH ON
083 267 4811 OR VISIT