New RealNet franchise opens in Kimberley

There is currently very strong demand for all types of residential property in Kimberley, which is also experiencing significant growth in the demand for retail, industrial and office space, especially in upmarket commercial developments.

That's the word from Arnold van der Walt, owner of the new RealNet franchise in the Northern Cape capital city, who says there is a high level of private sector business activity and that people are moving to Kimberley from other parts of the province in search of work.

"In addition, Kimberley is the hub of the provincial mining and agricultural sectors and home to various local and provincial government departments as well as the provincial legislature.

"Public and private healthcare services also draw many medical personnel to live in Kimberley, while multiple colleges, schools and the Sol Plaatje University are draw cards for both academics and students."

The Mediclinic Gariep Hospital in the city was built in 2014 while the Lenmed Royal Hospital opened in 2017. The university opened in 2014 and expects to have 7500 students by next year, and there are also 63 primary and secondary schools in Kimberley, as well as several other tertiary institutions.

The residential properties most in demand at the moment, he says, are freehold family homes with three or four bedrooms, ranging in price from R800 000 to R2m, with the current average selling price being around R1,4m. "And while home price growth has slowed over the past year in reaction to rising interest rates, there is still more demand than supply in Kimberley, so home sellers can still expect good offers on well-priced homes."

Van der Walt says families and first-time buyers account for the majority of home sales, with figures from property data company Lightstone showing that 48% of recent buyers are in the 36 to 49 age group, and 28% in the 18 to 35 age group.

"Meanwhile, there is also massive demand for rental properties and landlords are getting excellent returns on their investments. This is prompting private investors to develop townhouse complexes purely for rent, and we are also seeing the conversion of family homes into multiple flatlets to maximise returns. Many homeowners are now also converting their garages and outbuildings into flats for extra income and to help pay their own bonds."

Most demand, he says, is coming from students and from people who cannot currently afford their own homes due to the steady increase in interest rates over the past 18 months and the high cost of living. This situation is expected to continue for the next 12 months and will further strengthen the demand for rental units.

Van der Walt, whose parents ran a successful real estate business in Kimberley for decades, is a proud resident of the "Diamond City" who himself has 10 years' of property experience, and says he explored and researched many real estate brands in South Africa before deciding to join RealNet.

"I wanted to introduce a next-level brand that would add real value to Kimberley's community and RealNet stood out with its full spectrum of services right across the residential, commercial and agricultural property sectors, as well as excellence in development sales and property letting and management."

"In addition, I wanted to guarantee that our property practitioners would be the best equipped and most knowledgeable in the city and RealNet offers the finest training and ongoing support."

With a 21-year history of delivering excellent service, he says, RealNet is well-established as a prominent real estate brand in SA and yet continues to undergo managed brand evolutions and to refine its specialized marketing strategies in order to ensure that clients' properties obtain the maximum possible exposure to potential buyers and tenants.

For more information contact Arnold van der Walt on 082 415 4066 or arnold.vdw@realnet.co.za. Or visit www.realnet.co.za