Pretoria is arguably still the best-priced metro in the country for property buyers, and you can find exceptional value in the market right now according to Seeff’s Pretoria branches.
What makes Pretoria ideal?
Pretoria is a vibrant city and as the seat of government and home to many government workers as well as local politicians and foreign embassies and consulates. It is also still a growing city in terms of urbanisation. According to World Population Review, Pretoria grew by 78,332 people in the last year.
A recent study by NetCredit also pointed to Pretoria as the capital city with the most affordable property. Lightstone data for example shows that the bulk of sales transactions across the metro fall within the R800,000 to R2 million price range.
For example, while only about 8% of existing homeowners in Pretoria are below the age of 35-years, some 30% of recent buyers fall into the age group between 18-35 years. There is clearly great demand among young people within the Pretoria area.
Affordable areas
While the central, west and northern areas in Pretoria are the most affordable, there are many affordable areas in the Centurion area as well.
Tiaan Pretorius, manager for Seeff Centurion, says the largest movement is usually in the price bands below R2 million. The area is home to a number of areas popular with first time buyers. You can for example find a two-bedroomed apartment with a small garden for R800,000 in suburbs such as Doringkloof, The Reeds and Highveld.
You can also find a full title home from R1,65 million in Doringkloof and The Reeds and from R1,7 million in Highveld.
Pretoria East also offers affordability in suburbs such as Equestria and Moreleta Park according to Gerhard van der Linde, the managing director for Seeff Pretoria East. These suburbs are particularly favourable for young families, as they offer schools, churches, and various family-friendly amenities.
Options for first-time buyers include small two-bedrooms townhouses from around R900,000 and up to three-bedrooms homes with a double garage and a small garden for upwards of R1,5 million.
Faerie Glen is another ideal suburb for first-time buyers where you can find a small townhouse for upwards of R1,35 million.
As a large metro, Pretoria offers excellent amenities with good transport networks, schools and tertiary education including the University of Pretoria as well as UNISA which are both based there.
While it is becoming tougher for first-time buyers to get into the market, those who are able to purchase right now can find good value in Pretoria. The banks are also still granting 100% home loans to first-time buyers.
Importantly though, says Pretorius, buyers must ensure that they obtain pre-approval before they start shopping for their first home. Sellers are more likely to consider an offer seriously if the buyer has been preapproved. It also allows for a faster transaction time due to less time being wasted on the bond application process.
Writer: Gina Meintjes