Investing in Tourism: Rustenburg
Tourism is still a driving force in the South African economy and with an increasing number of tourists flocking into the country every year, providing accommodation for domestic and international visitors has become a very attractive investment opportunity for discerning entrepreneurs who see the potential profit in this market.
The South African Tourism Industry has steadily been growing, bringing in billions of Rands on a yearly basis. 2016 saw over 2.4 million foreign arrivals (12.3% increase compared to 2015) who spent over R17 billion (9.1% increase compared to 2015) and 4.5 million domestic tourist trips generating approximately R3.5 billion in direct spend.
Similarly the North West’s tourism industry has also improved over the past two years, with 206 298 arrivals in 2016 (increase of 67.35% from 2014), spending over R371 million in the province. Approximately a quarter of tourism expenditure (roughly R100 million) was spent on accommodation – with over 300 000 visitors staying in hotels, guesthouses, bed and breakfasts and game lodges and self-catering accommodation.
This is largely due to the myriad of exciting tourist attractions and activities on offer in this province; – these include: Sun City / Lost City, Pilansberg National Park, Hartbeespoort Dam & Snake Park, Madikwe Game Reserve, and The Cradle of Humankind.
Centrally located to the most popular tourist attractions in the province, resting at the foot of the picturesque Magaliesberg Mountain Range, is the city of Rustenburg. Surrounded by a stunning natural setting and boasting first class amenities and retail outlets, it is fast developing into one of South Africa’s top tourist destinations – an ideal place for those wanting to experience the stark beauty of the North West.
Rustenburg’s position and offerings has created a lot of interest in this region’s property market – as tourist accommodation properties have proved to be a popular investment the in current environment, which is ideal for investors looking to capitalise on the tourism industry in this area.
Over all the real estate market in Rustenburg is evenly distributed, with properties, geared towards tourism accommodation, varying in price from guest farms valued around R30 million to one bedroom chalets priced below R500 000.
Currently on the market is a great investment opportunity in Rustenburg & Ext, two nine bedroom homes listed at R15 000 000, ideal for a guest house/lodge, on a stunning 20.5 hectare property, surrounded by magnificent panoramic views of the valley and mountains. These abodes - which could be combined for an 18 bedroom lodge and venue - each comprise nine spacious en-suite bedrooms. The main complex has a caterer’s dream kitchen, large dining room area and a 22 seater boardroom. The property also boasts a sparkling pool, thatched Lapa and entertainment area. This once in a lifetime deal also includes solid wood furniture and collectable art work.
From modest chalets in holiday resorts to luxury guest lodges and game farms, Dormehl Property Group has many investment properties available in Rustenburg. Contact one of our dedicated estate agents to view the ‘tourism’ property of your dreams.
Author: Dormehl Property Group