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Parys is Tapping into a Multi-Billion Rand Tourism Industry
Category Property News
The Free State is transforming into a tourist hub and Lew Geffen Sotheby’s International Realty has the ideal property on the market, in the suburb of Parys, to capitalise on this changing landscape.
Parys, located on the Vaal River, is neatly tucked away in the most centrally located province, easterly bordering Lesotho. The suburb is seated near important arterial routes, including the N1 which connects Cape Town to Johannesburg and the N3 - connecting Durban to Johannesburg.
This quiet and quaint suburb draws its name from the city of Paris and is home to an authentic African culture and picturesque beauty that is attracting a number of local and international tourists. Still considered as one of South Africa’s hidden gems, Parys has managed to retain an historical charm amid rapid commercial and residential development. Tourists come here to experience the town’s natural beauty defined by the piercing Maluti Mountains that resonates purple and orange shades, courtesy of its geological compound - Sandstone.
With the rise in interest around suburbs in the Free State, no longer are provinces such as the Western Cape and KwaZulu-Natal being viewed as the ultimate tourist destinations in the country and investors are beginning to take notice of this transition.
Available Property in a Billion Rand Industry
Travel and tourism is the largest and fastest growing industry in South Africa and each year it contributes just over R100 billion to the country’s total GDP and plays an integral role in creating job opportunities - currently employing close to 700 000 people. To tap into this multi-billion Rand market, Lew Geffen Sotheby’s International Realty has an opulent private complex available in Parys that has the potential to be transformed into a guest lodge or an exquisite boutique hotel.
The property features four dwellings with a total of 12 bedrooms. The main house is a specious double storey, which has panoramic views of the Vaal River, complete with luxury finishes including a pool, outdoor entertainment area, bar, Jacuzzi and change room. It comprises of four-bedrooms, a lounge that leads into a balcony and a large open-plan kitchen.
The second dwelling is just as specious and luxurious, featuring four bedrooms, surrounded by a well-manicured garden. The third and fourth dwellings are cottages with two bedrooms and two bathrooms each. The exclusivity of each dwelling speaks of the enormous tourism potential in Parys that is not only home to incredible scenic beauty and a laid-back lifestyle, but a myriad of activities that provide a balance, including abseiling, eco and hiking trails, art classes, berry picking and fly fishing.
Residential Property Values Expected to Increase
Alongside a booming tourism sector, its commercial environment is transforming rapidly, resulting in an influx of people moving into Parys as its mining, agricultural and manufacturing sectors expand. Primarily attracting young families, homes in the area are forecast to increase in value as the wider Vaal area is set to receive the 11 billion Vaal River City. Labelled as the first “post-Apartheid” city seated along the river, it will comprise of commercial, retail, residential and leisure components - all neatly integrated, providing access to key road links to Sasolburg, Vanderbijlpark and Vereeniging.
As growth continues in Parys’ tourism market, it is interesting to see how the area transforms to meet burgeoning urban demands that is not only set to infuse competition in the local tourism sector, but with new developments such as the Vaal River City, the residential market is set for a rejuvenation.
Author: Lew Geffen Sotheby's International Realty