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The Case for Pietermaritzburg
Property in Pietermaritzburg lay dormant for many years and people were hesitant to invest
in what they called “The Sleepy Hollow”. This is not the case anymore. Pietermaritzburg is
fast becoming one of the fastest growing cities in South Africa. Therefore investing in
Pietermaritzburg is becoming increasingly popular.
The prices of Property in Pietermaritzburg is moving up at a rapid rate due to all
this confidence in the city. A 40% price increase has been recorded during 2004 on the
prices of 2003, and a 40% increase as at September 2005 on 2004. This increase is on
properties across the board, including houses; flats townhouses etc.
Pietermaritzburg will still move foreword due to the many changes and growing
business in the city.
Several good reasons To Invest in PMB:
- Pietermaritzburg is now officially the capital of Kwazulu-Natal and because of this there
is a huge influx of government officials moving into the city from Ulundi. This is helping
to create a huge demand for property that the supply just can’t satisfy. These officials
are still streaming in with many departments still to move to PMB.
- Due to the demand in PMB there is a huge amount of Development on the go, from residential
units to upmarket office space. This is resulting in many big companies bringing their
business to the Capital city. Therefore increasing the number of people in the city and
causing a demand that just cant be met.
- PMB we are fortunate with regard to the rental of investment property. With such big
factors as the Government departments; the very popular university and some of the top
schools in the country there is always a large demand for property to rent. Which suits
investment buyers perfectly.
- PMB is one of the only major Cities in the country where you can still buy good investment
properties under R500 000.With investment prices starting at around the R200 000 mark.
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