Property in Randburg bordering the Sandton suburbs sought after for many reasons
DURBAN – Randburg properties, especially those located in the areas bordering Sandton, are sought after for many reasons.
Not only does Randburg offer a wide variety of suburbs to suit every pocket, but suburbs like Greenside, Linden and Jukskei Park (all bordering Sandton) are generally also more affordably priced than the Sandton suburbs.
Another benefit is that these suburbs offer easy accessibility to the Sandton CBD where many of the residents are employed.
Duane Butler, GM of Seeff Randburg, said that Greenside is an excellent example of one such a suburb that offers close proximity to the CBD, while also boasting excellent growth in property values at the same time.
"According to Lightstone, the median price of freehold property here increased from an average of R1,8 million in 2009 to an average price of R3,0 million in 2019," said Butler.
Butler continues that while lifestyle estates in Sandton and Fourways are especially attractive to many upper end buyers, Randburg’s appeal lies in the fact that the area still has many family homes located in close proximity to important business nodes.
He said that demand for properties near good schools is still recognised with especially the Linden area showing incredible investment opportunity.
Investors that obtained property in Linden a few years ago would certainly appreciate the gem in their property portfolio today.
Property prices of freehold homes in Linden escalated from a mere R1,450 million for an average home in 2009 to an average price of R2,650 million in 2019, for example.
Sectional title units in the suburb started at an average price of R780000 in 2009 and are now averaging at around R1,850 million.
Butler said, "In addition to top class schooling, Linden also offers a variety of eclectic restaurants and trendy coffee shops as well as a wide variety of property options for potential investors to choose from".
Butler added that the demand for homes in the northern region of Randburg close to the Fourways business node is also continuously on the rise.
He said, "To this end Jukskei Park provides an excellent investment opportunity with lower rates and taxes than in Sandton, while also still offering easy accessibility to the Fourways business node".
If you purchased a property in Jukskei Park a few years ago you will definitely be reaping the rewards today as average property prices here have increased from R1,090 million in 2009 to R1850 in 2019.
The average buyer profile in Jukskei Park is also a much younger buyer. This stimulates growth and renewal due to upgrades and renovations on property”.
According to Butler, the proposed extension to the existing Gautrain station between Sandton and Cosmo City as well as the link with Lanseria Airport should prompt demand for various surrounding areas and create a positive stimulus for the suburbs nearby.
When the proposed Gautrain station in Randburg takes effect, owning an investment property in an area like Ferndale for instance could be a very good asset.
Other areas for investors to consider include Randpark Ridge, Sundowner and Northcliff.