Sectional titles are on the rise in Bloemfontein
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Bloemfontein is known as the City of Roses for its abundance of these beautiful flowers. With a thriving real estate market, it's never smelt sweeter. According to Lightstone data, the Free State city is having a property boom. It's reported a second successive year of increased property transfers, attracting buyers from Gauteng and Western Cape. First-time buyers are driving the market and snapping up affordable sectional title properties. If you're one of them, read on for more helpful insight.
Sectional title trends in Bloemfontein
Lightstone data shows sectional titles are the property of choice for Bloemfontein buyers. In 2021, this property type made up 57% of property transfers. In comparison, 38% of buyers chose freehold properties while 5% opted for estate homes.
Bloemfontein is buoyant thanks to the interest of young buyers; those 35 and under made the majority of property purchases in 2021. Unsurprisingly, they are turning to sectional titles for their smaller, more secure, and low-maintenance properties. Bloemfontein has seen an increase in new developments, offering new and modern living spaces in keeping with first-time buyer lifestyles. These sectional titles are often in sought-after suburbs, close to good schools, healthcare facilities, and special attractions. Truly, it's the perfect choice for young families and professionals in search of quality living.
Bloemfontein's sectional title properties also offer an accessible path to homeownership. Bloemfontein's average property price hasn't escalated as high as other South African cities. In fact, the average price for sectional title properties in Bloemfontein is just over R900,000. This makes it an easier choice for first-time home buyers looking to sidestep transfer duties needed for properties over R1 million.
Bloemfontein's sectional titles: the pros
Over the years, Bloemfontein's sectional title properties have risen in popularity. Here are some of the reasons to consider them:
Buy in a prime location: Sectional title properties are generally more affordable than freehold properties. This allows you to buy a property in a more sought-after part of Bloemfontein.
Feel safe and secure: Living in close proximity gives sectional title properties an edge in safety. And like many sectional titles, Bloemfontein's properties offer top security features such as access gates, electric fencing, and 24-hour security.
Share the costs of living: In a sectional title scheme, levies paid by owners cover maintenance and upgrades of your unit's exterior and upkeep of the common areas. You will only have to maintain and insure the interior of your home.
Enjoy easy maintenance: Using funds from the scheme's levies, the body corporate maintains the property's exterior and common areas. This can take away the stress of dealing with insurance premiums, utility payments, and managing cleaning, maintenance, and security staff for these areas.
Access great leisure facilities: You can enjoy a range of leisure and sports facilities in a sectional title scheme such as pools, jungle gyms, and tennis courts. The costs related to these amenities are shared.
Be part of a community: Bloemfontein is known for its friendly community spirit. You can experience this living in a close-knit sectional title scheme where neighbours develop close bonds.
Make a smart investment: Sectional title properties have a wide appeal. From newlywed couples, families, students, and professionals, to retirees looking to downsize, there will always be a strong demand for this property type. You can make an investment that will provide a good return if you decide to sell or let out your home.
There are so many advantages to sectional titles. Combine that with the appeal of Bloemfontein living, and you'll have a truly wonderful place to put down roots.
Where to find sectional titles in Bloemfontein
A well-priced sectional title property in Bloemfontein can sell within days of listing. Popular areas for buyers include Heuwelsig, Langenhoven Park, Bloemfontein Central, and Universitas. Of course, partnering with an experienced property practitioner can help you find the best option based on your unique needs.
Century 21 Bloemfontein, your sectional title experts
As area experts, Century 21 Bloemfontein has a keen insight into the local property market. We can help you find the perfect sectional title property for sale. View our listings; if you find one that catches your eye, don't hesitate to reach out to us.
Author: Century 21 South Africa
