Brooklyn, Waterkloof and Faerie Glen are among Pretoria’s most prestigious suburbs, for various reasons. Not only are they all in ideal proximity to the most desirable activities and amenities the city has to offer, but the demand for property in all three suburbs has grown consistently in recent years.
This five bedroom house for sale in Pretoria’s Faerie Glen is close to amenities, and offers open-plan living areas that flow onto a covered patio with braai. The property includes staff quarters and a swimming pool. It is on the market for R2.9 million - click here to view.This is according to Gerhard van der Linde, Seeff’s Managing Director in Pretoria East, who says that much of Brooklyn’s appeal lies in the fact that the suburb does not have much land available for residential development, yet there are plenty people who want to live here.
“The good schools and The University of Pretoria are major drawcards for the area, and makes Brooklyn an enviable address where both families and students want to reside in. Activity in the area, however, consists mostly of upgrades and rezoning for commercial purposes.”
Van der Linde says approximately 80 residential properties in Brooklyn sell annually, of which around 80% are full title stands. “If more sectional title units were available, though, there would certainly be a market for it.”
The biggest demand for full title property in Brooklyn falls in the R2.5 million to R3 million price range, while for sectional title property, units priced below R2 million are most in demand.
Although Brooklyn is mostly a buy-to-live area, Van der Linde says they have concluded a significant number of rentals here as well.
According to Van der Linde, the well-maintained suburb of Waterkloof is home to some of the city’s most expensive real estate, and is a highly sought-after area with several ambassadorial residences.
This four bedroom, three bathroom home selling in Waterkloof has an established garden with trees, a covered patio, swimming pool and borehole. The kitchen has a scullery and pantry. It is on sale for R7.5 million - click here to view.“Around 100 properties per annum are transferred in Waterkloof. Like in the case of Brooklyn, upwards of 80% of these sales are full title properties, with the balance being sectional title.”
He says the average selling price of full title property is a little below R4 million, with the highest demand in the R3 million to R 5million price range.
Many buyers are looking to buy older properties in the price range of around R2.5 million to R3 million, with the intention to completely renovate, says Van der Linde.
“There are not many sectional title properties available in Waterkloof, but they are selling at an average price of slightly below R2 million.”
Van der Linde says significant renovations and additions are taking place on properties in Waterkloof. “In some instances, older houses are bought with the intention to be demolished to build new houses,” he says.
“This is happening on many of the hilltop areas. The adjacent areas of Waterkloof Ridge and Waterkloof Park still have vacant land available, which is highly sought after by developers, and a number of green developments are on the radar.”
This five bedroom, three bathroom family home for sale in Brooklyn is within walking distance of Boys High, Brooklyn Mall and The University of Pretoria. The property includes a swimming pool, lapa and double garage and carports. The home is selling for R3.45 million - click here to view.With regards to Faerie Glen, Van der Linde says although it is adjacent to the current focus development, Menlyn Maine, which has been earmarked to become the CBD of Pretoria East, this suburb has kept its character as a quiet, peaceful neighbourhood.
Average prices for full title units are around R1.9 million, and R1.17 million for sectional title units. In the past five years the prices of full title units have grown by 34%, and sectional title units by around 41%.
He says that there are many residential opportunities in Faerie Glen, especially between January Masilela and Solomon Mahlangu Drives, where stands of over 1 000sqm are ideally located for the development of a second dwelling, or the so-called duet set-up or for subdivision.
“Faerie Glen is one of the older developed areas in Pretoria East, and no more open areas are available for building big sectional title developments. There are, however, 4 000 sectional title units in the suburb, and any unit in a good condition, which is priced correctly, will sell without difficulty.”
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