Over the last decade, an area once rife with crime and urban decay has been transformed into an up and coming chic suburb. Not since the Gold Rush of 1886 has Johannesburg offered such investment potential.
The symbiotic relationship between local government and investors in the Maboneng area started in 2003 when the City of Johannesburg introduced the Urban Development Zone tax incentive to eligible investors. Investors wanting rapid growth of their portfolios are coming in on the ground floor and buying up property in this area at a rapid rate. With more than 2-billion being funnelled into the Maboneng precinct by investors ranging from property investment companies to financial institutions, this is an area to watch closely in the coming years.