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PRETORIA EAST CATERS TO A WIDE MIX OF BUYERSRoma Naude, Broker/Owner of RE/MAX Property Merchants, specialises in the eastern suburbs of Pretoria, concentrating mainly on security estates. She says that although sale volumes have seen a steady increase since last year it is still not comparable to the peaks achieved in 2007. "It seems as if the general demand is also increasing, but that the strict criteria of the various financial institutions still result in a lower percentage of loan approvals. Asking prices for properties are still too high and this is where the expertise of experienced agents are worthwhile," she says. Overpriced properties, says Naude, are a direct result of the past property price hikes. "Owners who bought during the boom times who now wish to sell still want to make big profits." Her advice to sellers is to rather come on to the market with the right selling price than lofty aspirations to achieve a better price. "These sellers will often land up with their property on the market for two years and in the end selling for the initial price that the experienced agent valued the property for," she says. Properties in the eastern suburbs of Pretoria range in price from entry level homes that sell for between R750 000 and R1,5m to mid level homes priced between R1,5m and R3,5m. Expensive homes can sell for anything from R3,5m to R9m, while the top of the range homes have price tags of between R10m and R24m. Naude says that the past few months have been good in terms of sales, which she says is a clear indication that the property market is heading into an upward direction. However, she says, agents are also reporting that the bargain properties have already been snapped up. Naude also reports that agents selling in the up-market estates are getting more and more enquiries from purchasers looking for expensive properties in the R10m or more price bracket. Sales results on a national level have also been excellent, according to Adrian Goslett, CEO of RE/MAX of Southern Africa. Goslett says that the company's sales figures have shown a dramatic increase over the last two months, with May 2010 results up 37% on the same period last year, while June 2010 figures are 9% up on May. Goslett says that these figures are especially significant considering that winter is not traditionally a strong sales period in South Africa. Currently on the RE/MAX Property Merchant books is an R8,4m home which is described as an ambassadorial Georgian masterpiece. The home offers excellent finishes, a double volume staircase, stylish bar, library, study, frameless glass shutter doors and dramatic interflowing reception rooms that lead onto tranquil ponds and a magnificent garden. Also available is a home in Zwavelskloof for R5,5m. This residence also has quality finishes throughout and offers four bedrooms, four bathrooms, a study, three living rooms and a swimming pool. Naude attributes the steady demand for property in the eastern Pretoria areas to the fact that buyers have a wide range of choice. "The area offers properties for keen golf players at Woodhill Estate while horse-lovers along with yuppies and newlywed couples who prefer to be part of the buzz and close to amenities like shopping centres in locations that offer easy access to highways can purchase large 1ha stands at Mooikloof Estate," says Naude. Other well-known estates for those who do not want to take care of big properties are also available, such as The Boardwalks, which is also an excellent choice for nature-lovers with its dams and walking paths. "All the new developments around Mooikloof are a perfect option for people who still want the out-of-town feeling but do not want to pay the price of a Mooikloof property. What is very exciting is a new development that is coming on stream very soon right opposite Mooikloof Estate. RE/MAX Property Merchants has the sole mandate for this development, named Zwavelskloof Meadows. It offers mixed-use living with an office block component along with a residential area and a small convenience shopping centre," Naude concludes.
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