Market review: Phalaborwa, town of two summers
Category News
If you're looking for a real escape to a peaceful, country life where you can enjoy a mild climate and easy access to SA's beautiful wildlife, the town of Phalaborwa in the Limpopo region could be just the place you're looking for.
Located midway along the western boundary of the Kruger National Park (KNP), the town has its own entrance to this world-renowned game reserve and is also surrounded by many private reserves and luxury lodges. It is regarded as the tourism/ safari capital of the region and attracts around 200 000 local and foreign wildlife and eco-tourists a year, who also help to support its many guesthouses and B&Bs.
From Phalaborwa it is also only about four hours' drive through the KNP to Maputo and the beautiful beaches of Mozambique, and the area has a great sub-tropical climate, with warm winters that are very appealing to retirees. The town also has much to offer both permanent residents and property investors as well as tourists, including excellent shopping facilities, good schools, a private hospital and its own airport with direct flights to and from the OR Tambo international airport in Johannesburg.
Phalaborwa is also home to one of the oldest and biggest copper mines in the world, which also underpins the demand for local housing.
The town's real estate market offers a wide range of options for sale and for rent including flats, townhouses, suburban homes and gated estates as well as farms, guesthouses, smallholdings, game lodges and vacant land for commercial and residential purposes. Around 90% of all residential properties are freehold.
Current property prices start at around R110 000 for stands in Tarentaal Park, a full-title retirement estate for owners who are over 55 years old. There are also stands available in the Sunset Villa gated estate at prices from R140 000, and in the Kruger's Rest estate at prices from R280 000. The levies in these estates currently range from R125 a month to R500 a month.
Three-bedroom family homes in the suburbs are priced at an average of around R1,5m, and lifestyle farms of around 21ha from R4m. There are currently several guesthouses for sale, including one with 18 ensuite rooms, spacious dining and entertainment areas, an event venue that can accommodate 200 people and owner/ staff accommodation, which is being sold as a going concern for R21,5m.
*For more information about buying or investing in Phalaborwa real estate, contact our local team of property professionals on +27 15 781 7177
Author: Chas Everitt
