{"id":763211,"date":"2024-03-30T17:00:00","date_gmt":"2024-03-30T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=763211"},"modified":"2024-03-28T14:10:02","modified_gmt":"2024-03-28T12:10:02","slug":"sectional-titles-and-complexes-are-booming-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/763211\/sectional-titles-and-complexes-are-booming-in-south-africa\/","title":{"rendered":"Sectional titles and complexes are booming in South Africa"},"content":{"rendered":"\n

Sectional title homes are proving to be the most popular type of property in South Africa.<\/p>\n\n\n\n

DG Properties said that the prices of sectional title homes increased at a faster pace than freehold properties, with sectional title sales accounting for 67.4% of all investment properties sold in 2023.<\/p>\n\n\n\n

Andrew Golding<\/a>, CEO of the Pam Golding\u00a0Property Group, previously said that sectional titles saw 1.8% house price growth in Q4 2023 compared to 1.5% growth in freehold homes – the first time that sectional title house price inflation exceeded that of freehold since 2004. <\/p>\n\n\n\n

\u201cSectional title properties often offer a more affordable entry point into the property market compared to freehold properties. This makes them attractive to first-time buyers, young families, and people looking to invest in property,” said Alexa Horne, Managing Director of DG Properties. <\/p>\n\n\n\n

“Indeed, for investors, the sectional title is particularly appealing as they offer good capital appreciation and rental income.\u201d<\/p>\n\n\n\n

\u201cMost sectional title developments offer security features such as gated access, security guards, and CCTV surveillance,\u201d says Horne, <\/p>\n\n\n\n

These developments also offer shared facilities, such as pools, gyms and communal garden areas, which can be cost-prohibitive, and possibly unattainable for freehold homeowner<\/p>\n\n\n\n

These common areas are often maintained by a corporate body, which reduces costs and the burden of responsibility. <\/p>\n\n\n\n

\u201cFurther adding to the attractiveness of sectional title property is the fact that many of the developments are located in prime urban areas close to schools, shopping centres, entertainment, restaurants and public transportation,” said Horne. <\/p>\n\n\n\n

“They also offer a lock-up-and-go lifestyle which is increasingly in demand amongst homeowners and tenants \u2013 both young and old.\u201d<\/p>\n\n\n\n

She added that another perk of sectional title ownership is the legal protection afforded under the Sectional Titles ACT, which regulates the management of sectional title schemes. <\/p>\n\n\n\n

Below are several sectional title units for sale in South Africa: <\/p>\n\n\n\n

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