In recent years, there has been unprecedented boom in construction of buildings in South African city of Newcastle. The city has witnessed the erection of commercial and residential properties.
Building Services Manager at the Master Builders Association Ross Stembridge, recently noted that the move has been fueled by the rising economy of Newcastle in South Africa which has especially recorded impressive growth in the third quarter of this year.
It is believed that the boom in construction of buildings in South African city of Newcastle has been encouraged by the completion of the road between Ladysmith and Newcastle easing traffic. The N3 link to Gauteng through Memel is also undergoing renovation and all this will see to it that there is economic growth in the future. The re-commissioning of the Siltech factory out of Newcastle also encouraged construction of buildings in the area.
With such reconstruction taking place, there has been an increase in demand for residential buildings. Rental properties are in short supply with smaller units in complexes and apartments being extremely difficult to find.
There has been an increase in prices for such properties something which has seen many investors re-enter the market with numerous developments being sold at good prices.
