Faerie Glen is a well-established suburb perfectly situated in Pretoria East with easy access to all major highways.
What attracts buyers to Faerie Glen?
In the Old Faerie Glen, west of Solomon Mahlangu Drive, typical conventional properties and sectional title complexes are found. More modern properties are found to the east of Solomon Mahlangu. Faerie Glen is close to various main shopping centres, popular private and public schools, and the new Menlyn Maine development. Property values will increase in this area which will become more popular due to all the new developments in the east of Pretoria. More businesses are also moving further east.
What is currently happening in the property market in Faerie Glen?
Faerie Glen property prices currently follow the national trend of growth estimated at 4,5% year on year. Although properties below R2,2m and especially between R1,2m and R1,6m sell reasonably quickly, a slowdown in demand in the price range above R2,5m is noticeable, despite the expected spin-off from the increased activity in the adjacent Menlyn business district. Sellers in this price category can expect offers below their marketing prices making this suburb attractive to buyers. A further trend indicates an increase in demand from cash buyers in the over-55 age group who downscale, and sellers of sectional title properties reap the benefits.
What kinds of properties are available in Faerie Glen?
One of the greatest characteristics of the area is that over the years it has continued to grow and develop further east and thus can now be broken down into what we refer to as Old and New Faerie Glen. Old Faerie Glen consists mainly of larger traditional full-title houses with lush gardens, many beautiful townhouse complexes and duets. New Faerie Glen is the eastern side of the suburb where homes and gardens tend to be smaller but more contemporary. There are many good-value duets as well as attractive, modern townhouse complexes and a number of superb residential estates.
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