Clarens is the Free State’s latest property hotspot
With a total of 32 freehold homes, 16 sectional title homes, and 34 vacant plots sold over the last twelve months, Clarens is giving buyers a lot of options right now.
Clarens is the Free State’s latest property hotspot
The small town of Clarens has long been the charming cousin to Parys, drawing in visitors from around the country seeking an escape from the hustle and bustle. Now, the village at the foot of Mount Horeb is also pitching itself to holidaymakers as a promising area in the Free State to invest in property.
According to Pam Golding’s Odette Parris, 2018 has been a stellar year for property in Clarens as housing demand increased and a new residential development arrived in town. While the presence of long-term homeowners already indicates a stable market, young adults and first-time buyers are also stepping onto the property ladder. Odette observed that many buyers are from Gauteng and are scooping up homes to be used as a weekend getaway or leased out as a source of income.
Property transactions accounted for an average of R80 million, including the sales of nine homes in estates average price of R1.42 million, 32 freehold homes at an average of R1.44 million, 16 sectional title homes at an average price of R1.13 million, and 34 vacant plots were sold for over R300 000.
Sandra Gordon, Pam Golding Properties senior research analyst, commented that the shortage of accommodation to rent is driving the residential momentum, while the launch of new sectional title development – Quillets – is also set to change the landscape.
Clarens has a high property demand and low inventory, which is why buyers are moving fast and making offers as soon as units become available. The previous most recent development, Paddocks, sold out off-plan in eight months, Gordon says. With that much potential, it’s become obvious that the real estate market in Clarens will go from strength to strength in the months to come.
