Sandton remains property hot spot in Gauteng

Private Property South Africa
Press

The housing markets in Gauteng have experienced different growth levels.

While the housing markets in Gauteng’s mining and manufacturing towns experienced subdued growth last year, the markets in major metro areas, which are more reliant on the more diverse and resilient services industries, have continued to flourish. This is according to Andrew Golding, CEO, Pam Golding.

A prime example is Sandton, he says, which remains the financial and commercial powerhouse of Gauteng and the national economy.

Despite several years of rapid development there are still some 200,000m2 of commercial office space still at various stages of completion. As a result, demand for residential accommodation in and around the Sandton city centre continues to grow and flourish.

Golding says that an influx of new residents into Johannesburg and Pretoria has resulted in sharp increases in house prices, which is prompting some buyers to look further afield to areas like Midrand, which is equidistant from Pretoria and Johannesburg and with an easy commute via the Gautrain, is appealing for many residential property buyers. According to Lightstone, Midrand may well become one of the most densely populated areas in South Africa within the next 30 years.

This article originally appeared in Neighbourhood, Sunday Times.

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Explore neighbourhoods mentioned in this article

Sandton
Work hard, play hard...then relax
Sandton is a vibrant, modern neighbourhood that contains the richest square mile in Africa. It is the business gateway into Africa for many large corporations and attracts thousands of ambitious people seeking their fortunes. But Sandton is not just about big business, residents find plenty of time for leisure too. World class shopping centres, and a buzzing social scene are a huge hit with the young and young at heart. Perhaps surprisingly, there is a huge amount of green space in the area that residents take advantage of to exercise or just take a breather.
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