MAIN IMAGE: Bradd Bendall – BetterBond national head of sales, Oliver Moorcroft – Seeff Polokwane licensee
Staff writer
From PayProp comes the news that Limpopo is “the hottest rental market in the country.” Lightstone also uses the word ‘hot’ when it announced “Limpopo is the hottest province currently with property inflation at 6.82%.” BetterBond is also saying “SA’s Great North is red-hot.” The biggest question, apart from the statistics, is why? Why Limpopo?
A decade ago, Limpopo was primarily known as a wildlife/tourism destination, rather than a residential region. People had to have a reason to choose Limpopo as their home base, such as a career focused on tourism or a job related to local agriculture; perhaps it was due to family ties or diverse cultural and community connections.
Why Limpopo?
What changed over the past 10 years can be attributed to: greater economic opportunities; lower crime rates; significant infrastructure development, such as the Limpopo-Gauteng Speed Train Project; an escape from urban density; the need for people to reconnect to nature; and the search for a slower, less stressful lifestyle.
Residential property prices were generally considered reasonable in Limpopo, but that’s all changing, and rapidly. Those who were slow to take advantage of the ‘affordability’ factor that prevailed for so long in terms of Limpopo property may now have to readjust their budgets accordingly.
Bradd Bendall, BetterBond’s national head of sales, says that with the strong demand, house prices are steadily rising. He notes that one needs only look at the value of residential buildings completed over the past six months as evidence of a booming market. Hoedspruit is a case in point.
He quotes statistics proving that Hoedspruit transactions have almost doubled compared with last year. “In 2024, there were 383 sales; so far this year, 504 properties have changed hands. Much of this activity is being driven by mature buyers, possibly seeking an investment safari property or a retirement home. Almost 60% of buyers in Hoedspruit were over 65, followed by 20.7% between the ages of 50 and 64. Families are also drawn to the ‘slow-veld’ lifestyle, with nearly 16% of buyers between 36 and 49.”
Bendall also highlights that Hoedspruit sales prices remain below R2 million, “which is exceptional value for money. Farm sales have also been one of the main drivers of Limpopo’s house price inflation, climbing from R2.3 million in 2024 to R2.9 million this year.
“Prices rise significantly within estates or wildlife and game farm developments. In the Hoedspruit Wildlife Estate, for example, the average property price is just under R4 million, while game farms average just over R42 million. Many of the buyers in this price bracket are from overseas, according to estate agent reports, particularly from the Netherlands, Germany, the United Kingdom, and France, who often invest in game lodges that combine lifestyle and income potential.”
But of course, the Great North is not merely Limpopo. As the Seeff Property Group points out, the tri-region combination of North West, Mpumalanga, and Limpopo realised some 21,317 property transactions in 2024, totalling nearly R21.4 billion. Seeff’s branches also confirm that demand is being boosted by a steady influx of new residents moving to the main towns in those regions for the economic opportunities. These areas have seen good house price and rental rate appreciation.
Oliver Moorcroft, a Seeff Polokwane licensee, states that “demand is strongest below R1.5 million and above R3 million. Sales are often hindered by overpriced listings and too many open mandates; accurate pricing and sole mandates are therefore producing the best results. Prices reached R4.5 million in The Aloes Estate last year, as well as R6 million for commercial sales.”
“Mokopane is most active between R800,000 and R1.6 million,” according to Seeff licensee Nicole Teich. “Robust mining and a growing population are driving rental demand for flats and townhouses in the R5,000 to R8,000 per month range, making these attractive investments.
Tzaneen has similarly seen good price growth over the last decade. The most active price points are between R1.2 million and R2.5 million, with rentals mostly in the R6,000 to R13,000 range, although luxury homes can command up to R17,000 per month.
Rent is increasing
Rental in the province grew by 12.5% year on year in Q2, making it the third straight quarter of double-digit acceleration, says PayProp. The average rent in Limpopo was R9,145, an increase of more than R1,000 compared to the previous year. That increase has moved it from being the sixth most expensive province for tenants a year ago to fifth place in Q2, overtaking Mpumalanga. And the province could climb further up the table later this year. Its average rent is now just R94 behind fourth-placed Gauteng and R127 behind third-placed KwaZulu-Natal, both of which are growing at a much slower rate (2.4% and 3.6% year-on-year, respectively, in Q2).
Developers are interested As Limpopo’s stock shortages become more evident, developer interest is growing. Driven largely by the dedicated Limpopo Investment Promotion Agency aligned to Limpopo’s Development Plan (LDP), economic growth is being stimulated. This means that real estate projects will be key to the growth plan. In many ways, this gives weight to the phrase “If you build it, they will come.”
