Steady demand for land in Sandton

The demand for undeveloped land in Sandton is ever present and prices have increased over the past two years as developers and buyers who want to build signature homes of their own vie for residential stands.

That’s the word from Kelly Aronovich de Assis, owner of local agency Harcourts Solutions, who says there is demand for modern, customised homes that one can just move into and not have to redesign or renovate.

“Stands of about 1000sqm that have been subdivided in Bryanston, for example, are on offer at prices from around R1000 to R1500/sqm. And while individual buyers are purchasing them to build modern homes within easy reach of the bustling Sandton CBD, developers are targeting them with plans to build several cluster units or where possible, high density apartment or townhouse complexes, for which there is also keen demand.”

Aronovich de Assis adds that Sandtoncontinues to attract a wide range of buyers, thanks to its very diverse property offerings and central location. "There is something to suit most buyers' tastes and pockets here, from studio apartments starting at around R400 000 to large family homes at prices from around R3,5m, but most current activityis in the under-R3m price range.”

She adds that the top end of the market does continue to attract interest too, although sales are much slower than in the lower-priced categories. Top homes (see photo) are priced from around R6m toas much as R50m.

Meanwhile the rental market is steady with good demand from the self-employed and young professionals starting careers in Sandton's financial hub or at institutions in Johannesburg's CBD. Rentals range from R4000 a month for a bachelor unit to R80 000 a month for a five-bedroom penthouse.

Article by: www.harcourts.co.za

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