Midrand has become a key growth point in Gauteng, largely driven by the rampant commercial and residential development in the area, affordable quality homes across all sectors and its central location midway between Johannesburg and Pretoria, with the Gautrain offering easy access to both cities.
This six bedroom, four-and-a-half bathroom home for sale in Waterfall Country Estate offers a swimming pool, lounge with a wood-burning fireplace that flows onto a private covered patio, formal lounge with a gas fireplace, wine cellar, three garages and staff suite. It is selling for R13.999 million - click here to view.Grahame Diedericks, Manager Principal for Lew Geffen Sotheby’s International Realty in Midrand, says because of the ongoing development and strong demand, the local market has not been affected by the downturn as severely as the surrounding and more established suburbs, and it still presents a fantastic investment opportunity in one of Gauteng’s fastest growing areas.
“In fact, our office achieved a record first two quarters in 2016, and the outlook for the remainder of the year is also positive as there’s no sign of a decline in the influx of buyers who are attracted by Midrand’s value offering and all-round convenience,” says Diedericks.
He says investors are presented with a broad spectrum of properties, ranging from entry-level apartments starting at a very accessible R650 000, to around R20 million for luxurious, state-of-the-art homes in secure gated communities like Stein City Parkland Residence and Waterfall.
“There are now a number of modern sectional title developments in Midrand, such as Country View, Glen Austin and Halfway Gardens in which first-time buyers can enter the market for well under a million,” says Diedericks.
This two bedroom, one bathroom flat for sale in Carlswald, Midrand, is set in Rosa Royale Estate, which offers a gym, clubhouse, swimming pool and landscaped gardens. The flat has modern finishes, covered patio and one carport, and is selling for R995 000 - click here to view.“Freestanding houses generally range between R1.2 million and R5 million, and townhouses and cluster homes vary between R1 million and R2.5 million, depending on the area and the finishes.”
Diedericks says there are also numerous secure, gated communities such as Kyalami Estates, Kyalami Glen, Waterfall and Carlswald Estate, with sales prices dependent on the finishes, level of security and the facilities offered by the estate.
“The most sought-after estates that command the highest prices are those that offer the best security and on-site amenities, as well as easy access to conveniences such as shopping centres and the main arterial routes.”
He says that although all market sectors are active, the lower end is currently performing exceptionally well, and homes for under R1 million are usually snapped up soon after being listed.
Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty, says Lightstone statistics reveal that the number of properties in Midrand has doubled since the millennium, with an increase of more than 500% in the total number of sectional title properties developed during this period.
Situated in Waterfall Estate in Midrand, this modern four bedroom, two-and-a-half bathroom home has a herb garden, generous patio and a pool in a landscaped indigenous garden. The property also includes a separate one bedroom cottage, and is on sale for R8.999 million - click here to view.“Currently, sectional title properties make up only around 26% of the property landscape, but at the current rate of densification, Midrand is expected to change dramatically over the next two to three decades, and is likely to become one of the most densely populated areas in South Africa,” says Geffen.
Geffen says the area’s market strength and investment potential is also underscored by the number of large developments currently under construction.
“Stein City Parkland Residence paved the way for self-sufficient super estates in Midrand, and Waterfall Estate, which is now in development, also offers residents a secure lifestyle within a prestigious gated community with myriad on-site facilities, including a private school, clubhouse, restaurants, family parks and convenient shopping,” he says.
Investor confidence is further underscored by the fact that Porsche SA recently made the highest bid of R205 million for Kyalami race track, with extensive development and upgrade plans in the pipeline.
This three bedroom, two bathroom house for sale in Carlswald is situated in a secure complex. The home has a private garden, covered patio with built-in braai and double garage. It is selling for R1.64 million - click here to view.The increase in investor interest in the Midrand area has also spurred on the rental market, which is performing well across all sectors. The lower end of the market is especially active as young professionals and families move into the area.
“Many businesses have relocated to Midrand due to its excellent highway links and its central location in the economic hub of Gauteng, and it is also home to large-scale industries such as textiles and motor vehicles,” says Diedericks.
“And, with both demand and listings on the increase as more and more people seek the convenience of living close to work, there is no doubt that property in Midrand offers fantastic investment growth potential.”
