- Property developers are meeting the demand for housing in sought-after Sandton and surrounds.
- Properties are priced to appeal to first-time buyers looking for a 100% bond with zero deposit.
- Business executives working in the greater Sandton area are looking for a private, concern-free and luxurious lifestyle.
- Investors are seeking an asset that will show solid capital appreciation and sound rental returns.
Movers and shakers wanting to live in the City of Gold are spoilt for choice when it comes to seeking out new developments in Johannesburg.
Prices in the burgeoning hub of Sandton have remained constant over the past few years and the concerted effort by developers and the municipality to meet the demand for housing in the area is continuing to open up the residential market. That drive is partly to meet the requirement for short-term rentals created by Airbnb and the like but it also benefits first-time buyers looking to enter the property market with zero deposit and 100% bond.
Developments that are the most popular are those with a unique appeal, for example, Sandton Skye has the benefit of hotel-like living, and this is the second tower in an already proven development. Another popular option is the boutique residential development One97, situated in Hyde Park, on the doorstep of the rapidly growing nodes of Rosebank and Sandton. It is located near the exclusive Hyde Park Shopping Centre and is due for completion in mid-2019. Some apartments are offering a guaranteed rental return of 9%, so these are sought after by investors.
Capital on the Park in Sandton also offers a guaranteed rental return on some units, plus buyers have access to all the hotel amenities, while One on Whiteley in Melrose Arch enables buyers to enjoy the live, work and play lifestyle of Melrose Arch precinct, which is in demand from both investors and buy-to-live purchasers alike.
“We’ve already seen the success of Menlyn Maine in the Trilogy Collection, a brand new, urban residential development situated in Pretoria’s vibrant Menlyn Maine precinct, now construction has begun on Sandton Gate – a new R3 billion smart eco-city,” says Sandra Gordon, Pam Golding Properties senior research analyst. “The first phase will see the construction of over 30 000sqm of mixed-use space, including premium-grade office space, a residential block and amenities like a gym. The Sandton Gate precinct is envisioned as an eco-friendly smart mini-city that will serve as a commercial and residential hub within the greater Sandton area.”
Top three picks
Mixed-use precinct: Sandton Gate
- Mixed-use precinct to be Green Star SA rated.
- Size: starting from 2 bedroom 2 bathroom apartments between 89 and 159sqm.
- Price: from R2 950 000.
- Apartments: 370 luxury residential apartments phase one launching 1 November 2018, designed to suit a modern lifestyle; all apartments have ensuite bathrooms.
- Amenities: offers access to a gym, convenience retail and modern offices.
- Neighbourhood: near SA’s financial capital, Sandton, on William Nicol Drive between Sandton Drive and Republic Road, adjacent to the Braamfontein Spruit, a popular mountain biking route.
Functional luxury: One97 Hyde Park
- Size: from 32sqm.
- Price: from R1 970 000.
- Apartments: interior design options; wooden flooring; tailored lighting; exquisite finishes; built-in SMEG appliances; Grohe bathroom fittings; engineered stone worktops.
- Amenities: rooftop meditation garden; pool and poolhouse; 24-hour security and concierge; lobby and lounge; private function and meeting rooms; secure basement parking; gas infrastructure; high-speed fibre optic; laundry service; shuttle service; power back-up generator.
- Neighbourhood: in the heart of fashionable Hyde Park, a short drive from Sandton and Rosebank.
Mixed-use development: Illovo Central
- Size: from 23sqm.
- Price: from R914 000.
- Apartments: lock up and go; excellent finishes; underground parking, storerooms available; standby power and back-up water supply; high-speed fibre internet; pet friendly; superior security.
- Amenities: rooftop pool and bar area, gym, boardrooms, spa.
- Neighbourhood: centrally located between Melrose Arch, Sandton CBD and Rosebank CBD; tree-lined avenues; close to good schools, shops and places of worship.
If you’re keen on investing in one of these new developments in Johannesburg, check your chances upfront with ooba’s free, online prequalification tool, the ooba Bond Indicator. Then you can apply for a home loan with ooba. South Africa’s leading bond originator offers a range of home loan calculators to help people looking to buy a home determine what they can afford.