What's driving Middelburg's property boom?
Category Market News
Middelburg, Mpumalanga perfectly embodies the old saying 'good things come in small packages'. The town is steeped in history and boasts an impressive cultural heritage. Residents and tourists have their pick of exciting attractions and activities. It is also an industrial and agricultural centre, known as the 'Stainless Steel Capital of Africa' and surrounded by maize and game farms. Unsurprisingly, Lightstone reveals the vibrant area is currently experiencing a property boom. Century 21 Middelburg unpacks the factors creating an uptick in the market.
Discover Middelburg's thriving property market
According to Lightstone, smaller towns are benefitting as they attract new property owners who can work remotely. The analytics firm finds these towns, including Middelburg, present an opportunity for people to enter and move up the property ladder if the economic circumstances permit it.
Lightstone's data shows that freehold property prices have soared by 84% in Middelburg as the town has become a bustling industrial and agricultural centre, with a state hospital, clinic, private hospital, and several state schools. The area's appeal is expected to hold strong; the local municipality predicts the town's population will grow to 500,000 by 2030.
Factors driving Middelburg's property market
Besides remote working trends and attractive property options for first-time buyers, Middelburg is also being driven by investment. The area has seen major growth in its tourism profile, business opportunities, and infrastructure development.
1. Middelburg's tourism profile: In Middelburg, tourists can experience scenic hikes, game drives, golfing, craft markets, water sports, and more. Now, this sector is receiving a boost.
Upscale hotel brand, Radisson Hotel Group, is planning to build their 16th hotel in Middelburg. Set to open in 2023, the 150-room hotel will be within walking distance of the town's major shopping complex, the Middelburg Mall.
Hot on the heels of the international brand, Akani Properties, won a bid to develop a 350-million rand hotel and conference facility in Middelburg. The 150-room hotel and 1 000-seater capacity conference centre will provide facilities for business travellers and leisure tourists.
The Middelburg Observer and OH Frewin Printers have also launched the first-ever museum for printing and community press in South Africa. It features vintage press equipment, a dark room, and a press section with old and new articles of news breaking stories published by the Middelburg Observer.
2. Middelburg's business opportunities: Notable developments have seen the area's commercial activity blossom.
In late 2020, Auto Italia launched a new showroom in the area. Displaying vehicles from both Peugeot and Citroën ranges, the showroom broadens the options Middelburg and surrounding residents can enjoy.
In 2021, the Steve Tshwete Local Municipality (STLM), in partnership with the National Empowerment Fund (NEF), injected R50 million into the Enterprise and Supplier Development (ESD) Fund. This funding will assist local entrepreneurs with start-up capital and support interventions, including mentorship, to enhance their chances of success.
3. Middelburg's infrastructure development: Enhanced infrastructure raises property values, increases property demand, and stimulates economic growth in an area. Middelburg is seeing a surge with a number of projects.
In 2021, MTN announced that it had rolled out 5G connectivity to large parts of Polokwane and Emalahleni (Witbank), with Middelburg also on the cards. Fibre network operator (FNO) Evotel is also planning on increasing its fibre footprint in the town. The investment in the town's digital infrastructure will create opportunities for business and provide residents with a stable and secure network experience.
As part of the N4 Toll Route upgrade, the road between Emalahleni and Middelburg is being improved. This involves pavement rehabilitation and the construction of additional passing lanes. This bodes well for the economy of the area. According to Fikile Mbalula, Minister of Transport, the N4 Toll Route is the catalyst for trade and investment between three South African land-locked provinces of Gauteng, Limpopo, and Mpumalanga as well as neighbouring countries.
Make the most of Middelburg's property market
With a rise in tourism, business, and elevated infrastructure, Middelburg's future is looking bright. The town has potential whether you're after a home, investment property, buy-to-let opportunities, or thinking of opening a guest house. View Century 21 Middelburg's properties for sale or to let, and contact our team to get started.
Author: Century 21 South Africa
