Property developers say the closure of mining operations in the area of Matlosana in Klerksdorp in the North West, will adversely affect business.
Property prices have dropped and developers say it’s now cheaper to buy in Klerksdorp.
Klerksdorp, once a mining town whose economy was booming has suffered a decline since the recent closure of the mining operations.
Director at MXN Development Construction Nhlanhla Nhlala says, “ You go to Orkney, most of the houses there, good properties, because of closure of mining companies there you find them cheaper. Why, because a lot of mining companies have closed down. That causes the price of house to go down. We have people who drive, who come from Potchefstroom who are staying in klerksdrop. They don’t have a problem of traveling because they say property is cheaper here and the same house you would find for R500 000, you would get it in Potchefstroom for R700 000 or R800 000.”
