CAPE TOWN - Seeff Properties says that certain areas in South Africa were good investments a few years ago that would give you plenty of reason to smile now.
The booming property industry have seen fruitful benefits in recent years.
The areas of interest which Seeff highlights are Braamfontein, Bryanston, Sea Point or Observatory which have shown notable property price growth.
These property were also reasonably affordable and allowed buyers to select the property type and location which best suited them.
List of property and their increased value:
1. Braamfontein was R365 000 in 2007 while it is R480 000 today.
2. Bryanston sectional title property was R830 000 in 2007, now it is R1.2 million in 2016.
Bryanston freehold, just below R3 million in 2007, now R4.5 million in 2016.
3. Observatory sectional title from R568 000 in 2007 to R1 258 million in 2017.
Observatory freehold from R892 000 in 2007 to R2 288 million today.
According to Principal of Seeff Edenvale & Bedfordview, David Ingle says that Linbro Park in Sandton and Modderfontein around the planned Gautrein station will undoubtedly be some of the hottest investment property in Gauteng over the next ten years.
“These areas will present opportunities in the residential space with cluster homes, sectional title apartments and high rise apartments eventually on offer as well. In addition to the residential opportunities, there will also be numerous commercial, retail and office development opportunities", says Ingle.
Charles Vining, Seeff’s Principal in Sandton, lists Parkmore and Kyalami as two of the best areas to invest in.
“Parkmore is on the doorstep of Sandton and is popular with young families who may be working in the Sandton CBD. It has a park-life appeal and it’s fast attracting trendy foodies to the local restaurants and coffee spots. Local security companies have worked hard to maintain a secure environment that appeals to family and the local sports club has had several upgrades recently. This deliberate suburb upliftment will result in steady price growth over the next few years and in ten years, we’ll all be sorry we didn’t invest in Parkmore", says Vining.
“The racetrack has always been a significant attraction, but now that the Mall of Africa has opened up just down the road, there’s more reason to want to be in the neighbourhood".
Chris Hajec, Seeff’s Principal in Randburg, says there are very few residential suburbs left in Randburg in which full title properties are poised to enter a stage of significant gentrification.
“First time home buyers are increasingly hard pressed to find entry level price points available for full title homes for R900 000 to R1 million and therein lies the potential for a disproportionate rise in appreciation in the last holdout suburbs left in that price range and one where the average home buyer will be glad they invested in Randburg ten years from now", says Hajec.
Hajec says Sophiatown's vibrant culture and close knit community is extremely accessible to first time home buyers with an average price tag of around R843 000 for a full title property.
There is also excellent proximity to Wits and Johannesburg University, as evidenced by the high levels of student accommodation conversions which have been done in the area.
Duane Butler, Seeff’s Regional Manager for the Northern Division says Brackenhurst and Brackendowns, two suburbs of Alberton, offer great value for money with an average selling price of around R1.5 million at the moment.
“This average selling price was R900 000 ten years ago and I believe it will be around R2 million ten years from now”.
Butler adds that suburbs close to Soweto like Naturena, Meredale, Ridgeway and Mondeor will also experience good overall growth in ten years as supply and demand will push the average selling prices up. All of these suburbs are well located, close to the CBD and have good roads and transport infrastructures”.
Steve van Wyk, Seeff’s Principal in Centurion says that you can’t go wrong with property investment in the fairly new areas of Highveld and Rooihuiskraal North.
“Both these suburbs offer great returns, have low crime rates, access to highways, good schools and amenities and are predicted to become even more sough after in future".
- BUSINESS REPORT ONLINE