The sought-after Mooikloof area in the east of Pretoria is thought to be reserved for the very well-heeled.
But the area’s prices are within reach for many first-time buyers while retaining its ornate appeal for high-end purchasers.
Roma Naudé of RE/MAX Property Merchants in Mooikloof says the prices of entry-level properties in the area range from R750k to R1,5m, while mid-level properties fetch between R1,5m and R3,5m. “Upmarket property prices vary between R3,5m and R9m, but luxury properties valued up to R24m are also available in the area.”
Vacant land is still readily available, but the asking prices are optimistic due to ongoing bulk-buying for development purposes.
Roma notes that sales activity and the general demand seem to be increasing, despite the strict criteria of the various financial institutions that still result in a lower percentage of loan approvals. Buyers looking for expensive properties in the R10m and above mark are also coming back into the market.
“The asking prices for certain properties are still too high,” explains Roma.
Roma believes that the property market is still a buyer’s market, but property bargains are becoming harder to find. “Buyers still have many choices, and thus do influence the prices.”
“Exciting new developments continue to add to the vibrant and diverse ambience of this fast growing area. For example, Park View is an exciting new upmarket shopping mall near the Pretoria East Hospital and Woodhill Golf Estate. Next to Woodlands, a new shopping centre, featuring 58 new shops, is opening in October 2010.” – Eugene Brink
Readers' Comments
Have a comment about this article? Email us now.
