Sandton’s property growth is not likely to stop any time soon
As one of the most famous districts in all of South Africa, Sandton is as “first world” as it is local, and it’s only expanding. It’s a business hub, lifestyle centre and home to some world class entertainment and amenities, but what keeps the heart of Sandton beating?
Sandton is a truly unique neighbourhood, although calling it a neighbourhood seems to undermine it’s stature. Sandton is one of the busiest districts in Johannesburg, and the entire country. It is home to world class restaurants, bars, clubs, a high-end shopping mall, entertainment and five-star hotels.
It’s also where you can find the head offices of Sasol, Discovery, Webber Wentzel and Alexander Forbes, and that is without including the 400 000m2 worth of commercial and retail space being built in Sandton’s CBD alone. The combination of these factors make it a very attractive prospect to buy a property in Sandton, to a wide range of people and investors.
There has been a growing interest in property for sale in Sandton from developers, both commercial and residential, and it’s completely understandable when considering the sheer amount of construction taking place. The additional employment opportunities also result in more congestion, which in turn encourages employees to move closer to work, driving an increase in demand for high density residential developments.
Jake Hoddinott of Barrow Properties echoed this sentiment when citing the group’s new Metropolis on Park development as an example. The development is on track for completion in 2016 and will consist of 126 apartments of various sizes. Although Barrow Properties is primarily a commercial property developer, the attractive yields that residential developments in the Sandton CBD can offer developers, were impossible to overlook.
The benefits of living and working in Sandton are immeasurable according to Sandton resident, Shaun Stevens. “Nowhere else in the world can you be on a train to the airport within four minutes, and then minutes later be on your way to anywhere else in the world,” says Stevens. He did also highlight his pain free commute to work as the biggest advantage of living and working in Sandton.
