Sectional titles remain a popular purchase for South African home buyers, as seen in rising property prices.
This is according to FNB’s latest house price data, which found that the sectional title house price index rose by 5.18% year-on-year in the 4th quarter of 2017, having accelerated from 4.96% in the first quarter of the year.
The full title house price index, by comparison, showed a slower 3.95% year-on-year growth rate in the fourth quarter of 2017.
This increase means that the average price for a sectional title unit has now reached just under R1 million (R988,626) – up from R924,796 the previous year.
In contrast you can now expect to pay an average price of R1,207,773 for a full title home in South Africa – up from R1,189,453 the previous year.
With the R1 million mark now becoming the ‘new norm’ in South Africa, BusinessTech looked at what types of homes you can expect to buy in this price range, across South Africa’s major cities.
3 bedroom townhouse in Berea – R950,000
1 bedroom apartment in Umhlanga Ridge – R950,000
1 bedroom apartment in Ballito – R1,000,000
1 bedroom apartment in Morningside – R999,000
2 bedroom apartment in Muizenberg – R910,000
2 bedroom townhouse in Guldenland – R960,000
2 bedroom apartment in Uitzicht – R995,000
1 bedroom apartment in Morningside – R990,000
2 bedroom house for sale in Kensington – R920,000
2 bedroom townhouse in Meyersdal – R950,000
3 bedroom townhouse in Montana – R920,000
2 bedroom house in Equestria – R1,000,000
2 bedroom townhouse in Eldoraigne – R1,000,000
2 bedroom apartment in Walmer – R980,000
3 bedroom apartment in Bluewater Bay – R1,000,000
1 bedroom apartment in Summerstrand – R910,000
All data and images sourced from Property24.