The recent release by the municipality of more than 1000 new stands is an indication of the strength of demand for residential property as miners and their families continue to stream into the area from the Free State goldfields, says Bertus Bezuidenhout, principal of the local Aida office.

"The platinum, iron and chromium mines nearby are all expanding and employing new staff, and there are also reports that diamond-bearing fissures in the area will soon be explored.

"Demand has also been stimulated by investors buying retirement homes here and there has already been much new residential development in response. Prices have risen rapidly and even the old cement-cast Iscor houses here — affectionately known as 'bomb shelters' ᰬ are now selling at R400 000 and more. Prices for average three-bedroom homes now range from R500 000 to R700 000."

Small-scale developments of luxury units, realising more than R2-million each, are also starting to make an appearance in the town, he says.

Meanwhile, increased demand for smallholdings is encouraging local farmers to subdivide. "Prices vary considerably, depending on improvements and location. We have just sold 10ha of undeveloped land, divided into four plots, to a single buyer for R1.2-million because of the panoramic view of the Kransberg. And a nearby smallholding with a house on 10ha sold for R950 000."

,strong>Game lodges hot property
Aida Thabazimbi, which opened just a year ago, is also starting to penetrate the market for upmarket game farms and lodges, Bezuidenhout says. "We recently sold our first game lodge for R2.3-million — to an Italian buyer who contacted us in response to our internet advertising."

Prices for game farms and lodges vary between R4000/ha for undeveloped farms to R10 000 and even R15 000/ha for lodges.

Bezuidenhout has also acquired the franchise rights for nearby Ellisras and will shortly open another office there. "This market is extremely lively thanks to the upgrading of the Themba power station and increased production at the Grote Geluk coal mine. Last year 1100 homes to the value of R213-million were sold in what is a relatively small platteland town," he says.