2009/01/14

Despite the recent slump in the residential property market, the Vaal Dam area has seen a very positive turnaround both in terms of sales as well as serious enquiries.

"While the period from October to February is usually the most popular time for property sales on the Vaal Dam, and despite the current general slowdown in the property market, we saw the demand continue with unit sales for October (2008) up 50% year-on-year (y/y). The majority of buyers are still from the greater Gauteng area," says Phil Medlock, area principal for Pam Golding Properties.

"In particular, the demand is for waterfront properties and also vacant land with direct water frontage and this includes stands situated in Deneysville, which is located on the Free State shores of the dam, just 100km from Johannesburg," says Medlock.

In Deneysville vacant land in the village with views of the dam range from R250k with no waterfront access to between R650k and R2m for waterfront sites. Sizes range from 1,950sqm at the lower end to approximately five hectares at the top end. House prices in Deneysville village vary from R650k to R8m – the latter for exclusive waterfront properties at the top end of the market.

On the Vaal River and near the town of Villiers, River Home Estate is a new development which is set to launch soon. This will comprise over 120 stands ranging from 2,000sqm to two hectares in size and priced from a very affordable R295k for view sites and from R595k for waterfront stands. A further five large stands with zoning for 25 units per stand will also be available from R1,3m.

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