Realtor Pam Golding has signed a deal on a R30 million home in Bedfordview in Joburg – a record sale for the area which the property group says offers some upmarket homes on the same level of those found in areas like Houghton and Bryanston.
The record sale was for a five bedroom, five bathroom house, which also has a one bedroom, one bathroom cottage and staff quarters set on an erf of 1,766 square metres.
According to Pam Golding, the previous record for a home sold in that area was R28.5 million for a sale in 2016, though it noted that most of the area’s highest priced sales are usually large stands over 10,000 square metres and used for developments.
“On the East Rand this sale arguably ranks among the most expensive homes sold. In terms of quality this home is comparable to houses which would set you back some R40 million to R55 million if situated in a very high-end suburb such as Houghton or Bryanston,” the group said.
After a slowdown in August 2015, the top end of the market is “ticking over nicely right now”, the group said, noting that Bedfordview was seen as an upmarket area that is drawing the attention of established entrepreneurs between the ages of 40 and 55.
“Homes cover a broad price range mainly from R4 million and ranging up to approximately R25 million. Among recent sales concluded is a home which fetched R15.5 million,” said Nelson Ferreira, Pam Golding Properties area principal.
Ferreira said that the area is sought after in part for its quality of homes, and close proximity to highways to Sandton and OR Tambo International. It also has its own large business hub, and is near to commercial nodes and plants in the East Rand.