CAPE TOWN - Major development is underway in Far East of Pretoria and real estate company, Seeff urges buyers to invest now while the market is still affordable.
This comes after the new developments to the Far East of Pretoria which makes the city more appealing than before.
According to estate agent with Seeff Pretoria East, Gina Olivier, the new road which will link the N4 to the R21 (Hazeldean road) and also another road that will offer much faster access to OR Tambo and Johannesburg.
In addition to the new road linking the N4 to the R21, a R44 billion development 'The East Capital' is earmarked in the next few years.
"The East Capital will boast its very own Gautrain station, hospital, shopping mall, office parks and hospitality offerings".
The Far East consist of 12 upmarket estates, all of which offer schools within a short stretch.
The units on offer also range from bachelor units to exclusive mansions, suiting every unique buyer.
“Depending on what you are looking for, prices in these estates are still relatively affordable, but with all the development planned within the next ten years and the employment opportunities predicted to arise as a result, prices will definitely skyrocket", declares Olivier.
It is one of the most popular estates with clients and is situated higher up at the foot of the mountain.
“It offers a beautiful, secure, upmarket lifestyle and boasts open areas, paved walkways, lakes throughout and wild geese, abundant bird life and bunnies that roam free", says Olivier.
These units are modern and spacious which features lake houses and fountain developments inside the estate.
Notably, there are a few vacant stands available which can be afforded at prices ranging between R1.6 and R3 million.
New Second Phase Fountains Units starts from R1.250 million
New Second Phase Lakes Houses are priced from R3.4 million
Freestanding homes cost between R4 million and R10 million
Tyger Valley Country Estate
Is a new Estate situated on a mountain and offers stands of around 1000 m2 each.
A few homes that have been built on this estate are priced from R5 million upwards.
The oldest of all the estates with property priced between R2.5 million and upwards of R15 million.
This estate offers a clubhouse, security and luxurious mansions.
The Ridge Estate
Offers big stands with inter leading gates to the Curro Schools. This estate is mainly popular with larger families with school going children.
Phase 2 of this estate has just been launched and property cost between R3.5 million and R10.5 million.
For the younger investors:
Oukraal Apartments is ideal as it offers smaller stack units for investment purposes. The properties is priced between R450 000 and R650 000.
Other estates include:
The Meadows, that also has a Retreat retirement village and is priced from R2.5 million to R5 million.
Willow Acres Estate, close to the N4 where property prices range between R1.8 million and R5 million.
Six Fountains close to N4 where property prices range between R2.5 million and R5 million.
Silver Woods Country Estate that is an established estate where property is priced between R2.9 million and R8 million.
Silver Stream Estate that is a smaller estate where property is priced from R2.3 million to R6 million
Newmark Estate where prices range from R2.3 million to R4 million and Leeuwenhof Estate offering property between R450 000 and R4.3 million.
* Price ranges are an estimate of property currently in the market in these estates.
- BUSINESS REPORT ONLINE