Sect. title growing in Bedfordview

Sectional title developments and gated communities are quickly altering the property landscape in Johannesburg's Bedfordview.

Bedfordview, historically one of SA's most affluent suburbs, is known for its attractive houses on spacious plots as well as good schools.

However, the area is growing in popularity amongst younger buyers due to its close proximity to the airport and its location in the centre of Gauteng's network of highways. Large shopping centres and entertainment amenities are also situated on Bedfordview's doorstep, and the demographics is quickly starting to change, says Neil Alexander, manager of the local Chas Everitt International franchise.

"Many of the traditionally big plots are being sold to developers for cluster- and townhouse developments and the demand for such units is high. This was partly caused by the crime levels seeing that buyers regard these units as safer."

Sectional title properties in Bedfordview are fetching fairly high prices. For example, units that cover 120sq m in the sumptuous Bedford Square development have price tags in the region of R1,7m and others are being marketed for up to R3m.

Cluster units are being sold for prices as high as R3m. These units usually offer three or four bedrooms and form part of small complexes of between six and eight units.

Alexander says that in contrast to this trend, traditional freehold properties' values are moving sideways and prices of these properties have to be carefully determined in order to draw interest.

"Sales aren't generally under pressure and the rental market is healthy. Rental amounts for houses with three bedrooms range from R8k to R15k." – Sake24

Related articles