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Young professionals are snapping up property in Joburg’s Melrose

11 Jul 2019

Property News

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Young professionals have firmly set their sights on sectional title properties in the rapidly developing upmarket Johannesburg suburb of Melrose.

This two bedroom, two bathroom apartment in Melrose Arch, Johannesburg, has a patio and braai area with views of garden and pool. It is on the market for R5.2 million - click here to view.

Dianne Kinross and Zal Goldberg, Adrienne Hersch Properties area specialists, attribute this demand to the area’s unparalleled lifestyle offering.

“Melrose’s unbeatable location is absolutely key for young professionals. The suburb offers a cosmopolitan live, work, play lifestyle and is conveniently situated close to everything. This beautiful, leafy suburb is sandwiched between Rosebank, Sandton and Illovo, three of the city’s premier areas, and thus surrounded by a range of sought-after amenities, leading schools, major transport routes, healthcare facilities, places of worship, restaurants and parks.”

This two bedroom, one bathroom apartment in Melrose Estate, Johannesburg, has open-plan living areas, a loft and roof terrace. It is on the market for R2.05 million - click here to view.

According to recent figures from Lightstone, 46% of recent buyers in the suburb are aged between 18 and 35, and 49% of stock currently on the market is sectional title.

Kinross says many of these 30-something buyers are adopting a ‘long-term’ view when buying property in the area.

This upmarket duplex in Melrose North, Johannesburg, has two en-suite bedrooms, spacious living areas and a wooden entertainment deck. It is on the market for R2.65 million - click here to view.

“These buyers are planning for the long term, five to ten years at least. Melrose has undergone a significant transformation over the past 15 years, evolving from a sleepy northern Johannesburg suburb to one of the city’s leading mixed-use lifestyle hubs. Today, the area continues to experience a high concentration of development and remains in high demand among a broad demographic of tenants, presenting a strong investment opportunity for purchasers.”

Kinross says although a huge chunk of demand is coming from the younger market, the suburb’s magnificent tree-lined streets, beautiful homes and upmarket atmosphere appeals to all age groups at different stages of life.

This ranch-style family home in Melrose North, Johannesburg, has four bedrooms, two bathrooms, open-plan living areas leading out to the covered entertainment patio and pool, and more. It is selling for R6.9 million - click here to view.

“Although young buyers may make up the bulk of current buyers, the area appeals to couples and families as well, with a diverse mix of properties including upscale apartment blocks, townhouses, cluster developments and larger freestanding homes.  Downsizers are also attracted to the increasing number of smaller apartments that are being developed to meet demand.”

This one bedroom, one bathroom ground-floor apartment in Melrose Estate, has a covered entertainer's patio and private garden. It is on the market for R1.55 million - click here to view.

Goldberg says buyers will pay around R1.55 million for a one bedroom garden apartment and R1.595 million for a two bedroom, one bathroom apartment. A two bedroom, two bathroom apartment costs around R2.6 million. Buyers can expect to fork out around R6.5 million for a three bedroom, two bathroom cluster, and up to R14.5 million for a large cluster home. A freestanding home in the area can set buyers back anywhere between R6.5 million and R15 million.

The pair say what sets the suburb apart is, despite its close proximity to all amenities, it remains free from the hustle and bustle of the city.

This two bedroom, one bathroom apartment in Melrose North, Johannesburg, has open-plan living areas and a patio. It is on the market for R1.75 million - click here to view.

“Despite the development in the area, Melrose remains quiet and peaceful. Residents spend time walking their dogs in the streets and the beautifully landscaped James and Ethel Grey Park, as well as enjoying the wild bird species at the Melrose Bird Sanctuary. They are also able to walk to the Wanderer’s Cricket Stadium and Melrose Arch, which offers an array of restaurants, shops and cafés.”

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