According to the latest statistics from ooba Home Loans, Mpumalanga is showing excellent results. In particular, Mbombela (formerly Nelspruit) - the much-trafficked corridor between Pretoria and Maputo in Mozambique - is performing extremely well.
“As a gateway to the Kruger National Park, Mpumalanga also offers excellent investment opportunities. Except for a sharp drop from the end of 2021 to the beginning of 2022, there has been ongoing demand for investment or rental properties,” says ooba chief executive Rhys Dyer.
The province accounted for 7.9% of ooba’s total applications in the first quarter of 2023. The average purchase price of first-time homes has risen from R955 097 in the first quarter of 2022 to R1.038 million in the first quarter of 2023 – an increase of 8.7%.
Dyer says Mbombela continues to attract first-time buyers, particularly as new developments like Matumi Valley, Green Valley Estate and Intaba Estate are breaking ground.
“Lifestyle and a close-knit community both remain firm drivers in the growth of this region. Although sales activity certainly dropped in 2020, prices continued to rise. Sales subsequently rebounded to a decade high of 803 freehold homes in 2021, and 741 freehold homes were sold in 2022 - the highest numbers since 2014.”
Estates
In the past 12 months, 116 new plots were sold in Mpumalanga, with 107 of these in estates. Estates already account for nearly 40% of the total housing stock in Mbombela, underpinning buyer demand for security, a sense of community, amenities and a lock-up-and-go lifestyle.
Dr Andrew Golding, chief executive of Pam Golding Properties, says buyers throughout South Africa are looking for homes that offer security, with a strong shift towards a lock-up-and-go lifestyle. Coupled with changes in the way retirement is viewed, these factors have resulted in increased demand for homes in secure estates.
“Estate living was initially seen as the preserve of the wealthy, but they are becoming increasingly accessible to a broader cross-section of home buyers as developers realise the potential of including sectional title and retirement homes in developments. This has significantly broadened the appeal of this convenient way of living,” says Golding.
A recent Lightstone report notes that although estates make up just 7% of South Africa’s more than seven million registered residential properties, they account for 17% of the total market value. Lightstone estimates that there are currently around 440 000 properties in more than 5 000 estates across South Africa.
Mbombela listings
Matumi Golf Estate in the heart of Nelspruit was once a golf course but has been developed into a golf estate with a championship golf course and magnificent views of greens and fairways. Properties here range in price from R753 000 for an 840m2 stand to around R12 million for a luxury five-bedroomed house.
Matumi Estate: Property and houses for sale | Private Property
There are still several vacant stands for sale in the Stonehenge area, priced from around R350 000. Apartments are priced from R775 000, and free-standing homes range from R913 000 to R4.996m.
Stonehenge: Property and houses for sale | Private Property
West Acres offers a wide range of plots, apartments and houses. Stands are priced from around R550 000, apartments start at R550 000, and houses are priced from R860 000 for a two-bedroom home to R23m for a home with 29 bedrooms.
West Acres: Property and houses for sale | Private Property
The Mpumalanga market looks robust and offers excellent opportunities.
Writer: Sarah-Jane Meyer