![\"Soweto](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/02\/Soweto-House-01-640x423.jpg\")
<\/p>\n\n\t\tThe landmark Sowetan house of the late Dr Johnny Mosendane, a well-known public figure, has been sold for R2.5 million – a new record price for the township.<\/p>\n
This is according to Pam Golding, which noted that the 5 bedroom property situated in Rockville, Moroka, was designed by renowned architects Michael Sutton and David Walker in 1979.<\/p>\n
The property company said that some 40% of greater-Johannesburg\u2019s population resides in Soweto.<\/p>\n
Pam Golding said that many middle class and wealthier individuals are returning to Soweto from Johannesburg\u2019s residential suburbs – ‘because they miss the colour and vibrancy of the sprawling metropolis’.<\/p>\n
According to John Loos of FNB, the house price growth of properties in Soweto was 11.6% in the first quarter of 2015, which compares favourably with the single digit figures achieved in Johannesburg\u2019s northern suburbs.<\/p>\n
The average property price in Soweto is R620,000 while there is considerable demand for homes anywhere between R350,000 and R750,000, Pam Golding said.<\/p>\n
It pointed out that no transfer duties are payable on property transactions below R750,000, as opposed to the previous R600,000 threshold.<\/p>\n
Commenting on the landmark property, Pam Golding that Dr Mosendane asked the award-winning local designer to develop his Moroka home in 1979. He then acquired two neighbouring properties and expanded the home in the early 1980s.<\/p>\n
The property went on to win various architectural awards and was featured in a number of publications at the time.<\/p>\n
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