Boasting some of the most exclusive addresses on the African continent and home to some of the most expensive palatial mansions in the country, it could be hard to imagine that the super-suburbs of Sandton also offer property for sale under the R1 million price range.
Charles Vining, MD at Seeff Sandton, says that while there have been sales as high as R80 million in suburbs like Sandhurst in the past, and many properties listed here are marketed in excess of R10 million, buyers would be surprised at the more affordable properties for sale in the suburbs of Kew, Douglasdale, Rivonia, Fourways and Midrand suburbs and even in Sandton Central.
ʺIn Kew property can be picked up from as low as R490,000 and from R999,000 for a property in Douglasdale,” he said.
“In Rivonia property can be found at R699,000 and apartments can be picked up from only R700,000 in the Fourways suburb of Beverley. In Midrand apartments in Grand Central are priced from R595,000.”
Seeff noted that while central Sandton includes some extremely expensive penthouses and apartments, buyers should not rule out bargain buys in the older North-Eastern suburbs and the leafy Parks areas.
Parktown in particular has some great buys starting from R690,000. The suburb is located close to major hospitals, universities and the Johannesburg CBD/Bank City – which also makes it an ideal location, the property group said.
Fourways, with the recent opening of the much-anticipated Fourways Precinct is as popular as ever. Many flats and apartments are priced in the R600,000 to R700,000 bracket and property for sale in Douglasdale, which is positioned between Bryanston and Fourways starts at R725,000.
Paulshof (where property prices start at R680,000) and Sunninghill (where property prices start at R800,000) bridges the gap between the Sandton and Midrand suburbs.
Midrand is no longer as ‘far out’ as it used to be at all, and the level of development (Waterfall Estate, Mall of Africa and new corporate headquarters to name a few) and infrastructure has now made Midrand a destination of its own, Seeff said.
“If you are an active buyer currently looking at property for sale at under R1 million or a little more there are plenty to choose from. Seeff Sandton currently have 51 properties for sale between R1 million and R1.5 million in addition to many priced under R1 million,” said Vining.
Many sellers have reduced prices in the current market and some property is now for sale at prices below market value because some serious sellers are under pressure to sell quickly.
“Likewise, the banks are just as keen on buyers with good credit and have a healthy appetite for granting new home loans bonds.ʺ