The new property hotspot in South Africa’s richest city

 ·25 Feb 2024

Randburg in Johannesburg is becoming a popular destination for home and investment buyers.

Cobus Odendaal from Lew Geffen Sotheby’s International Realty said that the suburbs in Randburg offer excellent value, and the market has consistently performed well in a tough economic climate.

“Right now, when Gauteng’s market is more subdued than it’s been in many years, Randburg offers the whole trifecta – value for money, investment potential and lifestyle,” said Odendaal.

“In recent years, Randburg has become increasingly attractive to first-time buyers looking to get a foot on the property ladder, but savvy investors are realising that the area has very diverse housing options to suit all pockets.”

“Whether you’re a first-time homebuyer, upgrading to a larger property, downgrading as empty-nesters or seeking an investment opportunity, Randburg’s diverse housing market caters to all needs, life stages and lifestyles.”

He added that Randburg offers compelling investment opportunities for property buyers seeking capital appreciation and rental income.

“There is currently strong rental demand in Randburg because the area’s proximity to major business hubs, including Sandton and Rosebank, makes it an attractive location for professionals and expatriates looking for convenient housing options.”

“Additionally, Randburg’s growing popularity and development initiatives contribute to the area’s long-term investment potential, with property values expected to appreciate over time.”

The area is also benefitting from robust infrastructure and ongoing development projects that aim to enhance connectivity and improve amenities.

“Infrastructure upgrades, such as road expansions, public transportation improvements, and urban renewal initiatives, contribute to Randburg’s appeal as a desirable residential and investment destination.”

“And the area’s development potential and government investment in infrastructure further support its growth trajectory and attractiveness to buyers.”

He said that three suburbs, in particular, offer excellent options for home buyers and investors, including those looking for a renovation project – Linden, Olivedale and Randpark Ridge:

Properties in these areas in the R1 million to R3 million price bracket can be found below:

  • 3 Bedroom House in Randpark Ridge
  • Price: R2,290,000

Read: Trouble for homeowners in estates and gated communities in South Africa

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