In the area 3 - Montana Park/ Magalieskruin

There are few areas in SA where prices have remained as stable in the past three years, and are as well poised for an upturn soon as the Montana Park/ Magalieskruin enclave in Pretoria.

The major contribution to this situation, says Fransiska Schutte, owner of the local RealNet franchise, is that there has been only a minimal amount of the distressed selling and home repossession that has depressed prices in other areas. “Indeed, this has not been an area in which to find ‘bargains’ during the downturn and in the few cases where sellers did lower their asking prices in order to achieve faster sales, it was seldom by more than 10%.”

And now, she says, demand is increasing and sales activity has picked up once more, to such an extent that there are actually shortages of certain types of property for sale – notably townhouses at the R800 000 level – which suggests that prices are set to start rising again.

Schutte says location and security have also played a large part in the continued popularity of the area and the maintenance of its property values. Set on the northern slopes of the Magaliesberg, the area offers proximity to good schools such as North Ridge Primary, Laerskool Wonderboom and Hoërskool Montana, an enormous variety of shops and entertainment venues along Zambezi Drive, and the Netcare Montana Hospital.

It is also conveniently located in relation to workplaces in the northern areas of Pretoria and offers easy access to the N1 and N4 freeway systems.

“In addition,” says Schutte, “the homes in the area are mostly modern, low-maintenance townhouses and clusters with the high level of security that is of particular importance to two large groups of buyers – young families on their way up the property ladder, and older couples that are downsizing from big family homes.

“The wonderful climate in winter also contributes to the area’s popularity among retirees and developers have seized the opportunity to provide quality retirement villages. And recently, we have noticed that the area is also attracting many single career women who are high earners and often have the cash available to pay sizeable deposits.”

Meanwhile, she says, sales are also picking up in the suburbs surrounding the enclave. “There are lovely starter family homes with three-bedrooms in Doornpoort and a natural migration from these areas into Annlin and Sinoville for larger family homes and eventually into luxury homes in Montana, Magalieskruin and Wonderboom where attributes like finishes, exclusivity and a view become more important.”

Article from: www.realnet.co.za