Isabel Lewis, a well-known estate agent, has opened a new Jawitz Properties’ franchise in Nelspruit.
Nelspruit, now Mbombela, the capital of Mpumalanga is aptly described as the gateway to the Lowveld, attracting tourists heading for the Kruger National Park, Mozambique and Swaziland.
Well known estate agent Isabel Lewis, who has recently opened a Jawitz Properties’ franchise in the town, says that despite the slowdown in the economy, there are many positive indicators for future growth. Homeowners prefer to buy rather than rent, although it has become more difficult to raise a bond, forcing many to resort to renting.
From an extensive background in property, Isabel Lewis enters the market in Nelspruit armed with 36 years of experience and successes. Not a stranger to the town, her Jawitz Properties’ franchise is poised for open communication with clients and elevating the level of service delivery.
Proud to be associated with Jawitz Properties and its long history of 47 years, her franchise has benefited from the training programmes, state-of-the-art technology and marketing, as well as the support in setting up an efficient operation. “Clients can be assured that they are dealing with a professional, well established, reputable national brand with an exemplary integrity record. I have never met any group that is as passionate about property as I am. I identify with their positive approach to business, their values and importance they place on South African and global networks,” she says.
“With a total population of over half a million, the property market is diverse. There has been an increase in first time buyers entering the market who acknowledge that owning a property is a necessity. However, as interest rates rise, this puts pressure on bond affordability and inevitably impacts on properties of R750 000 and lower where demand outstrips supply.
Retirees wishing to escape the hurly-burly of city life, but wish to remain within reasonable distance of the big cities, are drawn to Nelspruit for a quieter lifestyle and the mild climate. They are spoilt for choice with some excellent and well managed retirement villages,” she says.
The new University of Mpumalanga, although only scheduled to be fully operational in 2025, is already providing short courses. Once completed, students will be drawn from the surrounding areas, all looking for accommodation. This also bodes well for the Mozambican market.
The new High Court will be opening its doors soon, bringing with it new home owners in the higher income bracket.
Currently, properties are changing hands within the month of listing - provided of course they are pitched at market-related prices.
However, overpriced homes take much longer to sell. Middle-bracket properties range upwards of R1.5m; and at the high end, prices can be anything above the R3m mark. At the lower end of the market, a two-bedroom apartment would start at R650 000.
Most of the new developments have apartments for sale. Investors buy in different price classes. The biggest demand for rental properties lie within R4 500.00 up to R30 000.00 per month.
“Taking the economy into account I believe that the demand will continue to grow. Affordability and the strict bank criteria will no doubt increase; and the interest rate that is in an upward trend, will raise the demand for rentals. Given the state of the current buyers’ market, investors are concentrating on the rental market where they can be assured of a 10% yield. The interest rate hikes have proven to be favourable particularly for those who are not dependent on finance from the banks,” says Lewis.