Bloemfontein, the Capital City of the Free State Province, is centrally situated in South Africa. The “City of Roses”, as it had become known locally, is placed with more pivotal importance than any other city in the country as it is the judicial capital. Bloemfontein is the sixth largest city in South Africa, and lies on the main road, rail and air links between north and south as well as east and west.
While Bloemfontein’s residential property market caters for a broad selection of home buyers – with the majority purchasing a home as a primary residence – there are several up and coming areas which are proving popular with young buyers.
According to Engel & Vӧlkers Bloemfontein one of the suburbs in Bloemfontein which is performing well is Langenhoven Park. The statistics provided by Lightstone show that 30 percent of buyers are between the ages of 18 and 35 years old, with just over 50 percent of properties sold in the area priced between R800 000 and R1.5 million and with an average selling price of R1.033 million. There is however, a very high demand for rentals, as the suburb is ideal for investors wanting to buy to let.
Another area that is in high demand is Universitas, a large, centrally located suburb close to all amenities such as schools, university, shopping centres and hospitals. This area is popular for student housing. The majorities of property in this area are being bought by buyers in the age group from 36 – 49 years and are in the same price bracket as Langenhoven Park with an average selling price of R1.137 million.
Another trendy new up market suburb which has high appeal for the more affluent buyer, is Woodland Hills Wildlife Estate. This estate is very secure and with a good mix of properties with modern finishes, all in the higher price bracket. These properties include sectional title and full title homes, vacant land and even offer properties within a retirement village. The average price bracket here is in the region of R2.2 million to R3.5 million.
“Property sales are indefinitely picking up in Bloemfontein as there are many new developments. Some of the major attractions are investors looking at investing in student properties This is evident in the fluctuation of sales taking place over certain time periods during the year”, says Fritz Kӧnig Team Leader of Engel & Vӧlkers Bloemfontein. Another attraction that plays a big factor is the number of excellent schools in Bloemfontein. This with the fact that Bloemfontein offers a different atmosphere than any other city in South Africa”, Fritz concluded.