The Cinderella of Joburg’s property market

  • 📰 BusinessTechSA
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 61%

United States News News

United States United States Latest News,United States United States Headlines

Long overshadowed by the more ‘prestigious’ northern suburbs, Johannesburg East is finally shedding its Cinderella mantle with a sharp increase in the value and volume of sales and Ekurhuleni now emerging as Gauteng’s rising star and development hot spot.

Long overshadowed by the more ‘prestigious’ northern suburbs, Johannesburg East is finally shedding its Cinderella mantle with a sharp increase in the value and volume of sales, and Ekurhuleni now emerging as Gauteng’s rising star and development hot spot.

“Tshwane has fared a little better with 4.6% in 2020 and 5.2% in 2021, but in the first quarter of this year, price inflation dropped to 4.8% and again to 4.7% by the end of the second quarter.” Ray Pasteris, Area Specialist for the group In Edenvale, said that there has been considerable upgrading in the area recently, most notably of older blocks of flats in Van Riebeeck Avenue, as well the rezoning of freestanding houses to be converted into multiple units, which are great investment opportunities.

Lightstone data shows that the median prices of freestanding houses and vacant land both reach a record high this year, at R1.525 million and R1.275 million, respectively. “There are many great starter home options in the area, most of which are in large modern apartment and townhouse complexes with between 600 and 1000 units offering one to three-bedroom options.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 24. in US

United States United States Latest News, United States United States Headlines