Suburbs were established to cater homes for miner families and Randfontein now has numerous suburbs catering for the broad income group living in the town. The mixed property usage in the town and suburbs consist of townhouses, freehold homes, apartments, smallholdings and farms.
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The holiday home market is exceptionally lucrative and buoyant. Reasons for this are the distance of the town from Cape Town and Vredenburg at 145 km from Cape Town and 15 km from Vredenburg respectively. Listed in the top ten list of desirable Cape coastal hotspots should draw buyers.
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Located in Midrand Gauteng, Kyalami Business Park is in a prime location as it offers direct access to all the major routes to the four compass points in the country, and access to the OR Thambo airport.
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Freehold homes set the benchmark for property values which influence the sectional-title segment ensuring stable growth in both segments. This bodes well for the prestigious homes in Miramar as there is a lot of stock in the suburb. The middle-class income group, in turn, want value for their money and Miramar offers this to the market too.
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The suburb is aimed at the middle lower-income groups and in this price-class, the property values indicate steady growth since the suburb is a stepping stone for some residents that will upgrade later in life to more affluent suburbs or as their income increases and other suburbs become more affordable. First-time buyers find value in the property of the suburb which is attributed to the growth in value.
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The architecture of homes in the suburb is a treasure trove with a mixture of Edwardian, Art Deco and Victorian architectural styles to choose from. This offers renovators an opportunity to go back in history and restore homes to their former glory and if sold these homes fetch their value on the sales market.
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Providentia is middle to the prestigious residential suburb of Port Elizabeth and has a mixed usage consisting of freehold homes, apartment complexes and sectional-title townhouse complexes.
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The property usage in the suburb appears to be predominantly apartment complexes, townhouses and some large executive properties. This mixed property usage attracts the whole market which in turn ensures stable growth in property values. Apartments are a source of investment for the rental market as the suburb is close to Nelson Mandela University. Thus, investors are guaranteed a steady stream of students seeking affordable accommodation. First-time buyers also flock to the suburb because apartments have a broad pricing spectrum and an almost certain increase in value.
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The suburb is in a prime location which is a factor to consider given the cost of fuel but also the convenience of short distances and time spent in congested traffic. The suburb is close to all the major commercial and industrial nodes, schools and malls.
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This is an affluent established suburb that showcases modern architecture mostly found in residential and lifestyle estates. Overlooking the tip of the Indian Ocean is one reason for the property values and the Port Elizabeth International Airport is also situated in the suburb, adding convenience for business travel to other regions of the country
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