Dalena Properties
Jan 14 2016

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Tags: coastal property  vacant land  golf estates 

Vacant Land Rockets Coastal Property Sales
Property on Golf Estates are becoming a hot commodity!

2015 has seen the sale of vacant land rocket in prime coastal areas from Mossel Bay to the Wild Coast. The motives for buyers acquiring land spans for various reasons, such as long-term investments, building retirement homes, getaway "holiday" homes and primary residential homes.

Buyers have been seeking land in distinctive locations, ranging from swag uptown residential units to trending gated communities and luxury golf estates. Buyers are investing for the long term now more than ever before, with the opportunity to buy now and develop later on according to their own desires and specifications.

Buyers from Johannesburg and Pretoria typically prefer purchasing in a golf estate or in gated communities because they are perceived to be more secure, have some form of access control and also because of the lack of housing currently available within certain price ranges.

With the demand for housing on the increase and a shortage of completed homes in these locations, more people are opting to purchase vacant land and build primary or leisure residences as and when they choose.

In the East London area, vacant land stands typically range from 250, 000 to 950,000, with the objective of building permanent residence. The highest sale price of a vacant stand in the Eastern Cape however stands at 1.4 million in the St. Francis Bay Links Estate.

Although there are undoubtedly significant increases in sales of vacant land, there currently still remain more sellers than buyers. Most buyers are typically from Gauteng, Durban or the Western Cape, acquiring vacant land stands in secured gated communities, while many couples nearing retirement are typically looking for completed property in golf estates.

Sales generally favor age groups between 50 and 70, however there has also seen an increase in the number of younger couples looking to invest for their future and are typically buying to rent temporally, thus helping to relieve the current shortage of rental properties in these areas.

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