The best areas to spend R2 million in Gauteng
BUYING PROPERTY? HERE’S WHAT R2MILLION CAN GET YOU AROUND GAUTENG
For R2 million and even a little less, you can buy a home in a sought-after area in Gauteng no matter where you choose to live.
This is according to various Seeff licensees in major areas across the Gauteng province, who say while some areas offer spacious homes and include extras like a pool, others offer smaller homes but in more prestigious suburbs for the same price.
They say while some don’t offer gardens, they have spectacular views of the city - so in the end it really only comes down to a buyer’s individual preferences.
Across the board, branches agree that R2 million buys a lot of lifestyle and regardless of where you settle down - this amount will get you a property that suits your personality, and you won’t need to compromise on important factors like proximity to major routes, good medical facilities, schools and shopping centres either.
1. Sandton
Charles Vining, Seeff’s MD in Sandton, says even though certain suburbs are home to some of the most-expensive properties in the country priced up to R70 million, this branch also has ample stock priced at R2 million and below – and like many other areas in Gauteng, the price band between R800 000 and R2 million experiences the highest demand.
In Sandton central - which includes areas like Morningside, Sandown, Strathavon, Illovo and Atholl - R1.2 million seems to be the starting point for property and this would mostly be for a two bedroom apartment, says Vining.
He says neighbouring Bryanston - which is part of Sandton, but further out from the Sandton CBD - also offers great value where one bedroom apartments could be picked up for around R800 000 and older, more spacious two bedroom apartments from around R1 million.
A typical R2 million property in Sandton:
A lovely two bedroom and two bathroom apartment in a sought-after complex in Morningside or Bryanston.
Why invest in Sandton?
It doesn’t matter where in Sandton you buy you are almost certain to see a return on your investment because of the extremely high demand that exists to live in or close to this area, says Vining.
2. Randburg
Chris Hajec, Seeff’s MD in Randburg, says Randburg is favoured by middle-income families intent on taking advantage of the residential atmosphere and tree-lined streets, coupled with proximity to shopping centres, restaurants, sought-after schools and top-class medical facilities.
Hajec says Randburg offers something for everyone, ranging from extremely affordable apartments for first-time home buyers priced at under the half million mark to luxury homes upwards of R20 million in upmarket areas like Northcliff and Honeydew.
A typical R2 million property in Randburg:
It would be a big, full-title property, with all the amenities like a pool, large stand, domestic accommodation, granny flat, work-from-home office, and possibly even a tennis court can still be found for just under or over the R2 million price point.
In Ferndale, Melville, Blairgowrie, Weltevreden Park, Randpark Ridge, Sundowner, Jukskei Park, Johannesburg North, Sharonlea, Olivedale and North Riding to name a few, Hajec says opportunities for R2 million are not hard to find as the median price tag for homes here ranges between R1.5 million and R1.8 million. Here you can expect to find something which is of superior quality and offers many extras for R2 million.
Why invest in Randburg?
Randburg caters for every category of lifestyle and price range, while also ticking all the boxes in terms of convenience and accessibility. It also offers many fix-upper opportunities, as most Randburg suburbs inside the N1 ring road are characterised by predominantly older housing stock, says Hajec.
3. Johannesburg South
Duane Butler, regional manager for the northern division, says Johannesburg South like Randburg consists of many diverse and popular suburbs that appeal to people from all walks of life.
The Joburg South area is best known for its central location and easy access to major highways and good municipal routes to the Johannesburg CBD. The price bands for property here range from around R350 000 for apartments in less sought-after suburbs to around R20 million for homes in upmarket estates like Eye of Africa and the Eco Nature Estate in Meyersdal, says Butler.
He says entry-level one bedroom apartments are available from under R500 000 and large family homes in areas like Mondeor, Alberton and Glenvisa start at around R1.2 million.
A typical R2 million property in Johannesburg South:
It would be a spacious family home with three or four bedrooms in a sought-after suburb that is often boomed off.
Why invest in Johannesburg South?
Rental demand outweighs supply ensuring above-average rental prices, and in turn property values in Johannesburg South are continuously rising, although some areas have better return on investment than others. Johannesburg South has also built up a reputation for its well-established family communities, says Butler.
4. Braamfontein (Joburg CBD)
Byron Cornish, a Seeff area specialist in the Johannesburg CBD, says Braamfontein has not only seen massive commercial developments in the past years, but many tech companies and innovation hubs are now also moving here. This does not only reinstate confidence in the area, but it also attracts many young professionals who would like to live where they work.
Although Braamfontein is still mainly geared towards students because of the limited accommodation available, Cornish says there is a demand for more developments suited to young professionals.
According to Cornish, price ranges differ per unit, but start at around R550 000 for a bachelor or one bed apartment in Braamfontein to R1 million for an apartment in the CBD. There are also a few penthouses which range from R1 million to R4 million.
A typical R2 million property in Braamfontein
There are not many properties in this price range at the moment, but penthouses in Madison Lofts range from R2.5 million upwards to R4 million and there are also a few buildings around the CBD that can fetch these prices, says Cornish.
He says properties of R2 million and over have fabulous inner city living and are mostly taken by creatives. You would get a large 200sqm to 300sqm apartment with two bedrooms and two bathrooms, very modern finishes as well as beautiful views of the city for this price.
Why invest in Braamfontein?
Cornish says the area is vibrant and interesting, and the city has incredible infrastructure that is seen nowhere else in Johannesburg. There are also many upliftment projects and initiatives to make the area more secure and craft markets to attract people to the area.
5. Bedfordview
David Ingle, MD of Seeff Bedfordview, says this area offers anything from R500 000 for a bachelor apartment in Bedford Gardens to upwards of R30 million on the ridge in Upper Bedfordview.
He says the suburb is conveniently located midway between OR Tambo International Airportand the CBD's of both Sandton and Johannesburg and have excellent private schools, good facilities, great restaurants and two top shopping malls.
In areas like Malvern, for instance, which is adjacent to Bedfordview, houses could be picked up from under a million, as is the case with some properties in Kensingtonand Bruma. Kensigton is sought-after because of the old world charm and fix-upper homes it has on offer, says Ingle.
A typical R2 million property in the area:
A three or four bedroom family home in an area like Cyrildene - and homes in this price rage sometimes need renovating, but depending on the area they could also be newly renovated, says Ingle.
Why invest in Bedfordview?
Ingle says while the rental market is buoyant, there is a shortage of stock across all segments. Above-average rentals are achieved in Bedfordview in relation to the surrounding areas, and the area has a perception of being ‘the place to live in’ in the East Rand.
Gerhard van der Linde, Seeff’s MD in Pretoria East, says while it was still possible to pick up one bedroom and two bedroom apartments in some areas surrounding Menlyn a couple of years ago at bargain prices, the situation has changed drastically with the coming of the mega development of Menlyn Main.
He says owners in surrounding areas like Garsfontein, Menlo Park, Alphen Park, Newlands, Constantia Park and Ashlea Gardens are getting premium prices for their property and the buy-to-let market is performing extremely well.
Townhouses and small homes in outlying areas like Silverton can still be picked up for around R750 000, while the luxury sector in areas like Waterkloof, Mooikloof, Woodhill and Silver Lakes has homes upwards of R20 million, says Van der Linde.
A typical R2 million property in Pretoria East:
A three bedroom house in a sought-after area like Faerie Glen or Monument Park.
Why invest in Pretoria East?
According to Van der Linde, the areas surrounding Menlyn are some of the fastest growing areas in Gauteng at the moment and the demand for property here is unprecedented. He says the area is also referred to as ‘The Sandton of Pretoria’.
7. Centurion:
Steve van Wyk, Seeff’s MD in Centurion, says Centurion offers property starting from around R1 million for a two bedroom townhouse to around R20 million for a luxury home in a sought-after estate.
The demand for estate living in Centurion has increased significantly and buyers are happy to pay premium prices for security, says Van Wyk.
He says Centurion has a broad range of estates priced from R1.5 million to R20 million. More prestigious estates include Cornwall Hill, Centurion Golf Estate, Irene Farm Villages, Southdowns, Blue Valley, Copperleaf, Heuwelsig and Midstream.
A typical R2 million property in Centurion:
A freestanding three bedroom home in a residential area like Rooihuiskraal or a brand new home of around 200sqm in an estate like Candlewoods, says Van Wyk.
Why invest in Centurion?
Properties in estates have excellent returns and the buy-to-let market in Centurion is buoyant, says Van Wyk.
He says the area is also home to numerous private and government schools, five golf estates, a road network, large and small shopping malls, sporting and recreational facilities and a number of Parks and Greenbelt areas.
8. Pretoria North
Peter Mokwana, Manager for Seeff Pretoria North (Jacaranda) says their trading area is massive and includes areas like Soshanguve, Garankuwa, the whole of Pretoria North - which includes areas like Nina Park, Amandasig, Montana, Montana Park, Annlin - and Doornpoort, amongst others.
He says property prices start from as low as R260 000 and can go up to between
R6 million and R27 million for a mansion built in a greenbelt area like on top of the Magaliesberg.
A typical R2 million property in Pretoria North:
A modern three bedroom home in a security complex situated at one of the highest points in Theresa Park or an older four bedroom family home on a large stand are on offer, says Mokwana.
Why invest in Pretoria North?
It is a well established area offering easy access to major routes to the centre of town and easy access to the N4 and N1 for people working in Johannesburg, says Mokwana.
He says the area also has ample space for new development, especially around Montana where many plots are up for grabs. In addition, Pretoria North has a lovely climate and all the amenities of typical city life are available, but the lifestyle is more relaxed.?
Author Property 24