Sandton remains the financial and commercial heartbeat of South Africa and, notwithstanding weak national economic growth figures, continues to grow.
This is evident from the many cranes which continue to dot Sandton’s skyline and the large number of buildings and skyscrapers which are under construction in the area.
“Although Sandton has been the subject of massive development by both the private and public sectors for the last number of years, there is still an impressive 200 000m2 of office space under development,” said Rupert Finnemore, who heads up Pam Golding Properties (PGP) in Gauteng.
Finnemore added that an estimated 100 000 people flood into the city every day for work or to take advantage of some of the best shopping and entertainment options on offer.
“The Gautrain station in Sandton is the busiest in the province. As a result, there is ongoing demand for residential accommodation in and around the city.”
According to Pam Golding Properties’ recently released research report on the South African property market, The Study, incorporating the PGP Index, the greater Sandton area remains one of Gauteng’s residential property ‘hotspots’, recording one of the highest average freehold and sectional title residential property price inflations (43.5 percent) in the province last year.
The desire for property close to Sandton has subsequently assisted to support the property markets in residential areas such as Inanda, Illovo, Melrose North, Melrose Estate, Winston Ridge, Fairway and Atholl.
Pam Golding Properties agent, Lynda Greeff said that house price inflation in some of these areas has slowed somewhat in recent months due to external factors including interest rate hikes, but such is the demand for quality accommodation that properties in these areas remain popular.
“There are a number of reasons why homes in these areas continue to remain highly sought after, including their superb location,” pointed out Greeff.
“Here investors can secure an exclusive leafy residential property on the very doorstep of both Sandton and Rosebank, with all the superb amenities that are on offer at these centres. Indeed, one would be hard pressed to find suburbs elsewhere in Gauteng that offer such a balanced combination of convenience, attractiveness, sense of community and value-for-money homes.”
Greeff added that a further draw card of the area is that it offers a range of possible property options to suit every pocket and taste, from apartments and townhouses to large luxury freehold properties.
“There are some impressive estates with homes situated on large stands. A charming, historic home designed by legendary architect Sir Herbert Baker in 1902 is at present on the market in Inanda through PGP.”
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