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Value-for-money property on Joburg’s West Rand

29 Feb 2016

Despite the recent hikes in interest rates, property on Johannesburg’s West Rand remains reasonably priced when compared to the CBDs of Sandton and Rosebank.

This three bedroom house in Monument, Krugersdorp, has a farm-style kitchen and two reception areas. It is selling for R2 million - click here to view.

During the last 12 years, many large developments have come on stream that now cater for the diverse profile of buyers, investors, first-time buyers and a varied population.   

This is according to Warwick Atkinson, Roodepoort manager at Jawitz Properties, who says the area is represented in virtually every category, so there’s something for everybody.

He says coastal areas can no longer be regarded as the only port of call for foreign buyers. 

“The weakened rand and the dollar/rand exchange rate have fuelled renewed interest in the West Rand,” says Atkinson.

“Queries from the African continent have increased since the beginning of the year, and foreigners are seeing the benefits in properties with a fast resale value and within easy reach of the major CBDs.”   

He says just recently, a buyer from the Democratic Republic of the Congo (DRC) expressed interest in a R4 million home in Ruimsig Country Estate. He indicated that even with the favourable exchange rate, developments in the Western part of Johannesburg make good financial sense.

Atkinson says properties in this area vary in price. A 45sqm apartment in Florida costs R395 000, whereas in the more upmarket suburb of Poortview, a 1 800sqm mansion would cost R22 million.

“Over the years, large upmarket estates have sprung up, with Eagle Canyon in the north and Ruimsig Country Estate and Featherbrooke to the West.

This five bedroom house in Ruimsig, Roodepoort, offers a study, gym, Jacuzzi, covered patio with built-in braai and heated pool. It is on sale for R10.5 million - click here to view.

“The older suburbs with large gardens and spacious accommodation where value can be found tend to attract families, and many embark on extensive renovations,” he says.

“The majority of properties in Monument Park and Rant-en-dal in Krugersdorp, as well as Discovery and Horison Park in Roodepoort, are priced from R950 000 up to R1.5 million and set on 900sqm to 1 200sqm stands, respectively.”

Atkinson says the rental market is buoyant and demand has increased substantially for a reasonably priced flat, townhouse or house.

Apartments in Florida go for approximately R3 000 per month, and house rentals in Eagle Canyon, Featherbrooke Estate and Ruimsig Country Estate can cost anything from R20 000 to R40 000 per month in both the private and corporate sectors.

“People are likely to turn to renting property as home loans become more expensive due to the interest rate hike. This, of course, causes stronger demand and higher prices,” says Atkinson.

He says the West Rand continues to grow with an ever-increasing number of sectional title, estate and retirement village developments.

This property in Florida, Roodepoort, has three bedrooms and an open-plan dining area. It is priced at R656 096 - click here to view.

Much of the ground in the Muldersdrift and Honeydew areas have been earmarked for developments awaiting the supply of utility services. A major 4 000-unit low-cost housing development in Tarlton is scheduled for 2018.

Substantial investment has gone into the upgrades of medical care facilities. The Pinehaven Life Hospital has recently opened, and a R700 million upgrade and expansion to the Flora Life Hospital is underway.

Atkinson says over the years the area has become a popular, friendly and an aesthetically pleasing place in which to live.

There is easy access to freeways, both to the north and south, and Lanseria airport takes the drudgery out of commuting.

“Residents enjoy the convenience of the large shopping centres, improved infrastructure, private schooling and a choice of golf courses, as well as the Walter Sisulu Botanical Gardens and the Kloofendal Nature Reserve,” he says.
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