{"id":721836,"date":"2023-09-30T17:00:00","date_gmt":"2023-09-30T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=721836"},"modified":"2023-10-02T09:29:52","modified_gmt":"2023-10-02T07:29:52","slug":"south-african-buyers-are-taking-a-swing-at-this-type-of-property","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/721836\/south-african-buyers-are-taking-a-swing-at-this-type-of-property\/","title":{"rendered":"South African buyers are taking a swing at this type of property"},"content":{"rendered":"\n

There has been a demand boom for homes on golf estates following the conclusion of the Covid-19 pandemic. <\/p>\n\n\n\n

According to the Seeff Property Group, golf estates have seen growth of around 8% to 10% on average, with buyers mainly interested in the lifestyle rather than investment value. <\/p>\n\n\n\n

Particularly in the Cape, the value of some estates has practically doubled over the last five to eight years. <\/p>\n\n\n\n

The highest volume of golf estate sales have been in the R3 million to R14 million range, but there have been some sales above R20 million. <\/p>\n\n\n\n

Rental rates for golf estate homes have also skyrocketed, with high-end areas, such as Constantia or the Winelands, seeing rental returns of above R60,000 to over R100,000 per month. <\/p>\n\n\n\n

Golf estates are also popular for second-home purchases, whilst also being a favoured choice for semigration buyers. <\/p>\n\n\n\n

However, not all buyers are moving to the Cape, with Centurion and Pretoria East, Zimbali and Hartbeespoort all seeing demand grow. <\/p>\n\n\n\n

The high prices for golf estate properties come as no surprise, with the sport especially popular amongst the extremely rich. <\/p>\n\n\n\n

New World Wealth<\/a> said that golf is the most widespread activity for centi-millionaires – those worth $100 million (R1.9 billion), despite the sport’s popularity dropping slightly over the last ten years. <\/p>\n\n\n\n

54% of the world’s centi-millionaires play golf, far higher than the 28% who collect art and the 20% who cycle. <\/p>\n\n\n\n

Below are some properties currently on the market in golf estates: <\/p>\n\n\n\n

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