Ongoing demand for properties in estates and complexes
Easy access to the workplace, educational institutions, shopping, entertainment, transport, and other facilities, as well as security, remain important concerns to the residents of Pretoria, and are assisting to drive ongoing demand for properties in well-situated estates and sectional title complexes.
This is according to Retha Schutte, Pam Golding Properties regional executive, Pretoria region who says that both the sectional title and estate markets have become increasingly important in the Pretoria region in recent years.
“Complexes and estates throughout the Pretoria region are in high demand among buyers and renters, particularly as access to facilities and security remain of major importance to residents,” she asserts.
According to property research company Lightstone, half of SA’s estates are situated within Gauteng and, at the national level, these properties have an average price more than three times higher than other types of residential property.
Schutte says that this demonstrates the ongoing demand being experienced for convenient and secure lifestyles not only in Pretoria, but throughout the country.
“This trend is also being expressed in the sectional title market. These types of homes are perceived to offer greater affordability and have the additional advantage of a secure lifestyle. As in other parts of Gauteng, increasingly more upmarket estates are introducing sectional title components, which make these much sought after areas more accessible to buyers.”
Pam Golding Properties Gold Club agent Inge de Klerk says that the greater Hazeldean region provides an example of an area within the Tshwane municipality that is benefitting from offering these two property options and which is enjoying exceptional growth in its residential property market.
“There are 11 residential estates in the Hazeldean region and all are security estates or sectional title security complexes,” she points out. “They include areas such as Silver Lakes golf estate, Silver Stream Estate, Silver Woods Country Estate, Lombardy, Six Fountains, Willow Acres and Newmark.”
“The range of accommodation available makes homes here popular among families, professionals, first-time buyers, embassy staff and retirees alike,” says De Klerk.
According to Lightstone, average evaluations on homes in upmarket Silver Lakes are R3.7 million while the average home in Willow Park Manor is a little more than R1 million. In the suburb of Willow Acres, close on 25 percent of homes are owned under sectional title arrangements and more than 75 percent are situated in an estate. In more upmarket Silver Lakes these figures are 3.9 percent and 96.10 percent respectively.
“Younger buyers and families appreciate the secure, convenient lifestyles on offer in Hazeldean and consider the property prices to be fair and well balanced. Other residents look to the relaxed, country ambience on offer in estates such as Silver Wood and Silver Lakes.
“Across these areas, homes priced between R1.5 million and R4.5 million in particular continue to be snapped up, which Pam Golding Properties views as a highly positive indicator for the property market in the area.”
“The growth that the Hazeldean region has undergone has been remarkable. The area has become a mixed-use community and an increasingly important growth node. It combines residential properties, retail shops, restaurants, office blocks, medical suites, a gym and also offers a popular weekend market, outstanding schooling options, as well as a popular retirement village.”
Residents do not need to travel far to access what they need. And now the region has been earmarked for a massive R44 billion project that incorporates residential, commercial, retail and utility components,” says De Klerk.
Hazeldean is easily accessible via the N4 freeway and Solomon Mahlangu Drive. The road infrastructure is developing rapidly and principal approvals are already in place for the planned R90 million PWV117, which will link the N4 with the R21 and thus directly link the area to these main road routes. Negotiations are currently being conducted for a Gautrain station in the area as part of the next phase of the transport system.
“Hazeldean is all about lifestyle and location, and residents appreciate the fact that every amenity is close to hand and the community is, to a large extent, self-sustaining.
“Prospective buyers see the area as an ideal ‘live, work, play’ community. Properties in the area are considered a great investment since they tend to enjoy consistently above-average growth, and are likely to continue to do so in the years to come,” concludes De Klerk.
For further information please contact Retha Schutte of Pam Golding Properties on telephone
012 365 2887 or email [email protected].