What it’s like to live in ‘trendy’ Braamfontein – and how much it costs
There has been a massive drive by South African and international tech companies to move to Johannesburg CBD, and especially Braamfontein, bringing with them increased demand for more aesthetically pleasing areas and a stronger emphasis on security.
This according to Seeff’s Byron Cornish, who said that the area is attracting creatives and young professionals who want to be closer to work and the student lifestyle.
“Many tech start-ups are housed in the almost complete Tshimolong precinct and the Wits tech hub,” Cornish said. “IBM and Microsoft are two of the strategic founding partners of this precinct and this has been massively positive for the area.”
Cornish noted that while many professionals were ready to move into the area in a “heartbeat’, they were being severely limited by the amount of accommodation available.
This means that, until new developments geared towards young professionals are built, this will remain a mostly student area, he said.
Lifestyle
Cornish noted that the biggest change in Braamfontein has been on the commercial front where many new shops, restaurants, bars and the ‘neighbourgoods market’ have all opened in recent years.
“In the past there were maybe one or two restaurants and bars that you could frequent, but now you can park in the middle of Braamfontein and walk down any street and find many places to choose from. This in turn adds to the vibe and increases the demand for small businesses to move back to the area,” he said.
Cornish added that the rest of the CBD has also seen improvement, ranging from fixing up the streets to erecting new shopping centres like the Newtown Junction.
“Although the nightlife in the rest of the CBD is not as popular as it is in Braamfontein, this is also slowly changing with the opening of more restaurants such as Urbanologi in Fox street and the many regularly frequented hot spots in the Maboneng precinct,” he said.
“A lot is being done to make the CBD attractive – like the introduction of ‘First Thursdays’ where all the art galleries, bars and restaurants open on the first Thurday night of every month.”
Other factors driving demand include the Gautrain, Park Station and the new bicycle lanes for those who cycle to work.
According to Cornish, property prices in the area vary, but start at around R500,000 for a bachelor or one bedroom apartment in Braamfontein to a R1 million apartment in the CBD.
There are also a few penthouses which range from R1 million to R4 million, and these include a large 200 to 300 square metre space with two bedrooms, two bathrooms, very modern finishes and views of the city.
Read: Middle-class South Africans can no longer afford to live in Cape Town CBD
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