Demand for modern, new apartment soars in Sandton CBD
As economic opportunities and new development properties increase in Sandton CBD, property expert Thulani Benitsius has noticed a significant increase in the demand for modern apartments with all the amenities required for a more luxurious lifestyle.
The demand for modern, new-build apartments in the Sandton CBD is soaring among a fast-growing demographic of tenants, according to Thulani Benitsius, Adrienne Hersch Properties’ Rental specialist in Sandton CBD.
Benitsius reports a significant demand from corporates and homeowners who have placed their property for sale in Johannesburg’s outlying suburbs for apartments with a range of amenities that were once thought of as luxury. “A property’s amenities play a huge role in the clientele it attracts and its rent prices. A growing number of tenants are seeking apartments offering convenience and facilities suited to their lifestyle choices. While a gym and a swimming pool might have previously been considered nice extras, these amenities are increasingly becoming must-haves for discerning tenants,” he says.
The recent influx of professionals moving into Sandton CBD and who want to rent a modern apartment with all the luxury amenities is no surprise due to the high concentration of development happening and the opening of the Discovery, Sasol and Old Mutual headquarters.
With more job opportunities and a significant amount of developments popping up, rental demand in the area looks set to rise over the next 12 months.
Rental prices vary according to location and amenities on offer, but on average one can expect to pay rentals on studio apartments between R7 500 and R15 000, rentals for one-bedroom units between R7000 and R25 000, two-bedroom apartments between R10 000 and R35 000, three-bedroom apartments between R12 000 and R45 000, and penthouses between R30 000 to R80 000.
