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In 2017/2018 savvy buyers could snap up a R12m waterfront home in golf estate Pecanwood, on the banks of the Hartbeespoort Dam, for R4m.

At the time, prices had plummeted in many of the fancy estates, which over 10 to 15 years had mushroomed in Hartbeespoort, the picturesque town set around the dam of the same name and flanked by the Magaliesberg. It is about an hour’s drive north of Joburg...

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