03 Jul 2013
The building of new two and three bedroom houses in Protea Glen Ext 11 in Soweto will commence around September 2013.
Protea Glen is located between Lenasia and north of Soweto and the new houses will sell from R450 000 including transfer and bond costs. Stands range from 300 to 320 square metres and the newly built homes range from 45 square metres to 60 square metres.
Seeff Johannesburg South agent, Khosi Sibiya, says the homes in Ext 11 are far more superior than the average homes in the area, therefore prices are slightly higher than the average house price of around R300 000.
She says these two and three bedroom modern homes include quality finishes with a choice of Tuscan style roofs. In addition, she says the maintenance is low and and there is the option of extras like garages and carports.
Sibiya says the average household income in Protea Glen is between R6 000 and R9 000 per month. According to ooba bond originators, the monthly repayment on the bond will be around R3 800 per month at an interest rate of 9.5 percent over a period of 20 years that equates to approximately a R4 000 bond repayment per month if no deposit is put down.
Sibiya says the market in Protea Glen is buoyant at the moment, with over 140 unit sales per month in the last year. About 98 percent of property in Protea Glen is freehold.
At the moment, the majority of houses fall in the price range between R300 000 and R500 000, but there are also quite a few that are priced above R500 000. The most expensive property on the market is a three bedroom, two bathroom spacious home priced at R700 000.
For more information, contact AKhosi Sibiya on 079 311 9983 or via email.
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