My SO has a property in the Greyton area. Every other week she gets inquiries about renting it out or outright selling it. The demand for property is definitely there: I've seen a few Cape based property developers going inland, buying cheap plots and putting up mini complexes. Would love to do something similar if I had the capital.
Unfortunately we live in Pretoria and remote maintenance is proving very difficult at the moment. Also, substance abuse is on the increase in the whole Overberg area with the crime that follows. Put in a couple of insurance claims in 2016 for stolen burglar bars, doors, stoves, electrical wiring and plumping stolen right out the walls.
Alas, going to sell that particular headache this year.
R25K isn't such a big risk so I would personally buy and hold for a while. Property generally appreciates over time, just that Touwsrivier is a bit meh with not much happening there. Its only real positive seems to be N1 running through it. Maybe a BnB isnt such a bad idea
FYI paid just over R1K over a year in rates for our 650m2 piece of land, that includes actual water and lights usage when we had tenants in. An empty plot with no municipal connections what so ever shouldn't attract any rates but squatters and similar will pose a risk.
Looking at a similar venture once we sell off the other property, let us know how your adventure goes.