This new estate being developed near Modimolle is the only one in the area, and investors who buy early could get a great return on their investment.
It is no secret that golf estates hold prime value for real estate investors. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, the trick is deciding which golf estate will bring you the best return on investment.
“Owing to their picturesque locations, their large residential plots, and their onsite amenities, golf courses have always had an enticing charm about them, particularly for real estate investors. In fact, many fantasise about the day they get to retire next to their favourite green. The question isn’t whether golf estates are worth investing in, but which golf estates will earn the best return on investment,” Goslett explains. Loua Boshoff, Broker/Owner for RE/MAX Bushveld, operating in Bela Bela and Modimolle in Limpopo, has recently added a very promising golf estate onto his books: Koro Creek Bushveld Golf Estate. According to Lightstone Property data, average prices within this estate grew by 55% for freehold titles and by 52% for sectional titles just last year.
Offering a possible explanation for this phenomenal rate of growth, Boshoff explains that some had invested in the earlier stages of the development and have subsequently subdivided the original plots and resold them as sectional titles. Development began on the estate during 2005, and the project is now well into its third phase, with stage four to be launched in the foreseeable future.
“The development is still in its early selling stages, so investors still have a chance to purchase before spaces become scarce. Our office has been mandated to sell 36 stands directly from the developer. The properties on these stands range from R2 million to R4.5 million. Thereafter, another 238 stands will remain, with 79 of them belonging to stage four which has yet to be launched,” Boshoff explains.
Adding to the explanation for the boom in the estate’s pricing, Koro Creek is currently the only estate in the area that is being newly developed, which only enhances its allure. “Rated among the top 100 golf courses in South Africa, Koro Creek offers a highly attractive option for those hoping to invest in real estate. Offering all the amenities of a golf resort, residential estate, retirement village with onsite clinic, and nature reserve, Koro Creek is the perfect location for both young and old, which creates a larger pool of potential renters for investors who are hoping to use the property as a source of rental income,” says Boshoff.
“A mistake too many investors make is waiting for an area to develop fully before they invest into it. In reality, those who have the foresight to invest while an area is still developing have the opportunity to make a much higher return on their original investment, Goslett concludes.