A snapshot of the property market in Brummeria, according to local property experts.
What is currently happening in the property market in Brummeria?
Brummeria houses 1,166 adults and has 630 residential properties: 455 (72,2%) sectional schemes, 79 (12,5%) freeholds in estates, 52 (8,3%) “normal” freeholds and 44 (7%) are sectional titles in estates. In the last year (October 2015 to September 2016), 38 properties were registered: 33 in sectional schemes (21 in the R800,000 to R1,5m bracket), one freehold and four in estates. Average prices achieved from January to September 2016 for freeholds were R1,695m and R950,000 for sectional schemes versus the 2015 full-year figures of R1,76m and R1,05m respectively. Unit-wise, 21 sectional titles and three freeholds were registered in 2016 versus 35 and eight in 2015.
What kinds of properties are available in Brummeria and who is buying them?
There is a mix of full title properties as well as townhouse complexes and apartments in the area. Buyers in Brummeria range from young to old; however, existing owners are predominantly more mature citizens. There are a few retirement villages in the area as well as smaller full title villages which accommodate older folk. Retirement units sell for around R950,000 to R1,4m. One can invest in a two- to three-bedroom apartment for roughly R750,000 to R1m. Full title homes with larger stand sizes range between R1,6m to R2,6m depending on upgrades and position.
What attracts buyers to Brummeria?
Brummeria caters for young and old who prefer the safety of the many complex developments as well as affordability. The excellent neighbourhood watch and extra boomed security at night contribute to the popularity of the area. Brummeria is superbly located with comfortable access to the N4 and N1 highways, which makes commuting to the north, east, south and west easy. The suburb is situated opposite the popular St Paulus Primary School and close to other primary and high schools and many shopping malls in the area. As one of the older established areas in the east of Pretoria, property in this area is sought-after.
This article originally appeared in Neighbourhood, Sunday Times.
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