Wellington, in the Boland region of the Western Cape, continues to see growing demand for secure residential estates, this according to Louise Varga, projects manager for Pam Golding Properties in the Boland and Overberg regions.
The success of new development, Stadsig Private Estate, by Bommelstein Development, is an indication of this. According to Varga phase 3 of the development is about to commence, with a complete sell out of phase 2A and the first home buyers taking occupation in June/July 2016.
Varga believed that the success of the development is evident in the fact that 23 local Wellington buyers have purchased units; to date Pam Golding Properties has sold 48 of the Stadsig units, with a few Gauteng buyers acquiring units.
Stadsig’s location as well as the undersupply of secured access homes in the area is believed to have driven the quick uptake, with only six units still for sale in phase 2B. Phase 3 will comprise 47 units with prices ranging from R1m to R1,15m.
Pam Golding Properties believed that, despite the current challenging economic conditions, the Stadsig development will be successful. Opportunities also exist for buy-to-let investors with investors already having acquired units in the previous phases with the potential of earning a monthly rental return of R7,000 to R13,000.
Photo: View of the living area, with finishes samples, at a completed Stadsig Private Estate Unit.