Soccer 2010 stadium attracts property buyers

Construction works at the 2010 Soccer World Cup in Nelspruit is attracting property buyers.

An eclectic collection of buyers including transferees, wealthy retirees and investors are purchasing properties in Nelspruit, all with very different goals in mind but all keen to take advantage of what the area has to offer.
Carl Jacobs, principal of Homenet Nelspruit said the growth-point for Mpumalanga, Nelspruit is increasingly attracting transferees from other towns and cities who are bringing their families with them. Typically these buyers are purchasing freehold homes priced at around R1,3m.
Overseas buyers buy into new developments with a view to letting and are purchasing guesthouses, while wealthy retirees are also making their mark, buying quality lock-up-and-go type accommodation priced at around R1,5m and above.
"But investment isn't restricted to outsiders. "Locals looking to upgrade or downsize are also generating activity in this market, "said Jacobs.
Nelspruit is ideally centrally situated on the Maputo Corridor and is within easy reach of the Kruger National Park and Mozambique as well as the picturesque countryside around Hazyview, Pilgrims Rest, Sabie and Graskop.
The Kruger Mpumalanga International airport located 20 minutes from Nelspruit has done much to channel tourist traffic into the area, with flights arriving from all major cities daily. Major malls and chain store groups have also sprung up in response to increased demand for such amenities.
Fuelling this momentum, said Jacobs, is the fact that Nelspruit is a 2010 Soccer World Cup host city and construction on the 2010 ‘Mbombela' stadium is well under way.
Activity in the rental market is relatively stable. Many who have re-located to the area are renting temporarily until they find a property they like. And interestingly, many landlords are opting to waive rental escalations in order to retain good "permanent" tenants.