Located in Illovo, this property was recently sold for R35 million. Image: Supplied
From long driveways to lush gardens and breathtaking views, Jozi’s one percent have secured their slice of paradise on Earth.
South Africa’s luxury high-end residential property market is a magnet for both local and international high net worth buyers, and Gauteng has some highly sought after suburbs.
So, if you’ve stumbled upon some millions and are looking to place your rands in real estate, heads up – the City of Gold still glitters.
Pam Golding Property’s chief executive, Dr Andrew Golding, said there’s a growing interest in luxury high-end residential property in the city.
“We are seeing positive signs regarding confidence in the market in general, and currently dealing with high net worth buyers in all our top-end luxury areas regarding freestanding homes, including those in estates,” he said.
ALSO READ: Joburg elites spend more than R90k on monthly rent
Golding said Blair Atholl, Hyde Park, Sandhurst and Morningside were among highly sought after residential locations in Gauteng, revealing the secret behind the exorbitant property price tags.
“Achieving high-end prices largely relies on the location and prestige of the specific address, and those that offer status, top-notch security, a luxurious lifestyle and in many instances, high-end amenities, do not face challenges in terms of demand.”
“We’re seeing notable interest from South African buyers, including expats who had emigrated to London but are now returning to South Africa,” Golding said.
“Furthermore, there is ongoing robust attention emanating from other African countries, including Kenya, Angola, Mozambique, Botswana and Zimbabwe,” he added.
ALSO READ: International buyers snatch prime Cape Town properties
Meanwhile, Steyn City residents are ever-ready to convert their cash to luxury concrete, as they’re seemingly always keen for a real-estate shopping spree.
“Of interest is that existing residents in this expansive, highly sought-after estate are very active in the market and always looking to acquire additional properties or to upgrade within the estate, which attests to the potential for sound return on investment,” Golding noted.
While most property buyers prefer purchasing a ready-built home for convenience, some still prefer designing and constructing their house from scratch, hence the appetite for vacant land.
“In Steyn City in Fourways, we recently sold a 4 100sqm vacant plot for R18.5 million to a local Gauteng purchaser, who is building a permanent residence in a prime location,” Golding said.
ALSO READ: SA’s expensive homes: Here’s what you can get for at least R100 million
Download our app and read this and other great stories on the move. Available for Android and iOS.
