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Buy-to-Let in Saldanha's Booming Property Market
Category Property News
The Cape West Coast residential market has been flourishing of late, driven by an increase of eager buyers due to the economic and industrial development surrounding the Saldanha IDZ project. This upsurge in demand stems from the continual flow of people from across the country relocating for employment.
Alongside the expansion in the residential market, rentals have also shot through the roof as buy-to-let investments have shown popularity in the Saldanha area. An increase of houses sold, from 2013 -- 2016, showed an increase of nearly 300% (291.92%) in Saldanha alone – yet affordable properties are still available despite the high demand, with the average estimated value of a residential home set at R500 000.
Property has always been and is still one of the most stable and secure assets available, therefore buying to let is a clever investment and can facilitate a great returns for savvy investors. As a buy-to-let investor there are many advantages you can benefit from such as earning income through tenants and capital growth of the property. When buying property with the intention to let it, investing in apartments are even more profitable, as the costs involved are usually lower than that of houses and other residential properties. If you get to know your market well and do your research there are no limits to the advantages you can reap.
Situated on the Cape West Coast, the harbour town of Saldanha is positioned approximately 140km from Cape Town and is home to the deepest natural harbour and largest bay in the Southern Hemisphere. Renowned for its shipping of iron ore, railway line and fishing industry – the demand for property, in particular rentals have grown parallel to the development of commerce in the area.
Named a Strategic Integrated Project, the Saldanha Bay Industrial Development Zone (IDZ) has drawn many buyers and renters to Saldanha and the surrounding towns, as it is expected to create more than 21 000 jobs, the property market has experienced a steady boom over the past few years making it very popular amongst residential buyers from all over the country.
Lew Geffen Sotheby’s International Realty has various properties, perfect for the most discerning investor looking to capitalise on the thriving Saldanha property market. Currently available is an opportunity to invest in the brand new Bayview residential development, this mixed-use development is close to the new Sport Stadium and town centre, offering great rental returns. A modern and upmarket apartment, listed at only R549, 500, is one of 24 studio units available complete with top-quality furnishings, Wi-Fi and DSTV. The building is very secure with 24-hour surveillance and access control. The development will also host a variety of facilities including a gym, beauty salon, coffee shop, laundry service, bakery and doctor’s surgery.
Conveniently situated, and close to its neighbours, the towns of Vredenburg, Langebaan, Hopefield and Paternoster all border Saldanha, each offering many attractions and activities as well as shops, restaurants, top-notch schools and medical facilities.
Mild weather and user-friendly beaches makes this town a water sport enthusiast’s dream - with jet skiing, kite surfing and fishing all on offer. If you are lucky, you might even see the seasonal migration of several species of whale including; southern rights, humpbacks, Bryde’s whales and schools of Heaviside’s, dusky and common dolphins between May and December each year.
The Saldanha market is continuously climbing and showing no sign of slowing down. Taking into consideration the high demand for rentals in this town, it is a great fit for investors looking for buy-to-let properties.
Author: Lew Geffen Sotheby's International Realty
