Areas and Places

Uptick in Vaal Dam property market

Five bedroom home in Castle Marina achieves record price of R3 million

With summer now well under way activity in the residential property market in the Vaal Dam area has picked up significantly with the local Pam Golding Properties office reporting some notable sales recently concluded – including a five bedroom, five bathroom, double-storey waterfront home which fetched R3 million, which is the highest price achieved for a home in the established Castle Marina complex. The previous highest price in Castle Marina was R2.4 million for a four bedroom, three bathroom home which was sold by Pam Golding Properties in 2012.

“We have also seen a resurgence in vacant land sales, especially to first time buyers, as pricing is very attractive with stands starting from around R80 000,” says Phil Medlock, Vaal Dam area principal for Pam Golding Properties. “Many of these buyers are from neighbouring communities and looking to build a permanent residence, while others are from out of town and buying to build a home for leisure or weekend use.

“December is usually a busy time for us, with January traditionally one of our best trading months as purchasers are often those who visit friends or family in the area during the festive season and then decide to invest in property at the dam. This is also a time when people are looking forward to the coming holidays and planning ahead for quality, family leisure time during the year. Accordingly, thoughts often turn to acquiring a holiday home with convenient access, which can be used for regular weekend getaways as well as holiday periods or even as a primary residence.

“With its easy accessibility from Johannesburg and Pretoria, the Vaal Dam area, which includes Deneysville on the Free State side, has always been known as the inland water sport playground of South Africa, with its numerous yacht clubs and marinas, vast range of water sports and other outdoor leisure activities a well as restaurants, pubs, galleries and art and craft shops. Being only an hour’s drive from Johannesburg, the Vaal Dam property market is likely to remain popular among weekenders as well as those working from home – or those willing to commute to the workplace.”

Pam Golding Properties (PGP) is now marketing the final five waterfront stands available in the village of Deneysville, priced at R650 000 each for 1000sqm. “This comprises the final phase of Castle Marina, a longstanding and popular waterfront development which currently consists of 35 fully developed waterfront properties. With house prices in Castle Marina starting at R1.75 million for a three bedroom house, these stands offer sound value for money,” says Medlock.

Also currently on the market through PGP is the new Marina View, 12-unit residential development situated only 100 metres from Manten Marina, which is the main harbour on the dam. Priced at R1.65 million, the three bedroom, two bathroom sectional title units are 248sqm in size, open plan in layout and include a spacious 40sqm loft room and double garaging. “With the Marina and its harbour, launching facilities and local waterfront pub a mere 100m away this offers the ideal lock up and go option. A Marina View show unit will be completed in mid-December (2014) and is available for purchase priced at R1.495 million,” he adds.