Johannesburg may be Africa’s top city for millionaires – many of whom have luxury homes in Sandton – but the greater Sandton area has plenty of property options that attracts buyers from all walks of life.
According to AfrAsia Bank Africa Wealth Report 2019, Johannesburg ranks in the top five African cities for wealthy individuals, with most of this wealth concentrated in Sandton, the country’s business hub, home to the Johannesburg Stock Exchange and a number of financial services firms and corporates.
Many of these individuals tend to choose exclusive Sandton suburbs such as Bryanston, Hyde Park, Houghton and Sandhurst among others as their preferred home location. In 2018, Sandton in Johannesburg was ranked third by AfrAsia with house prices at US$2.600/m2 – following Cape Town at US$5.600/m2 while Umhlanga recorded prices of US$2.800/m2.
But, says Richard Smith, Pam Golding Properties Hyde Park area manager, “The greater Sandton area offers value for money homes in different suburbs – from apartments and clusters to luxury homes on spacious grounds, with different prices to suit all budgets.”
These northern Johannesburg suburbs continue to experience demand as they offer a wide range of properties – from lock-up-and-go apartments to top-end family homes - situated close to schools, major arterial roads and commercial hubs. In the last 18 months there were notable sales in the properties priced from R5 million upwards in sought-after suburbs which include Atholl, Bryanston, Dunkeld, Hyde Park, Inanda, Illovo, Melrose, Morningside, River Club, Rivonia and Sandown.
Within the greater Fourways, sales of above R5 million have been concentrated in the secure estates such as Blair Atholl Golf & Equestrian Estate, Dainfern Golf & Residential Estate, Dainfern Valley, Fernbrook Estate, Helderfontein Estate and Monaghan Farm as well as well as the suburbs of Craigavon and Sunninghill, says Ken Woollcott, Pam Golding Properties Fourways area manager.
“Across the various price bands, sales enquiries have definitely increased in these areas, and we find that homes priced above R5 million attract families looking to upgrade to bigger properties,” says Woollcott. Blair Atholl Golf & Equestrian Estate and Monaghan Farm located in Lanseria offer ready to move in country lifestyle homes as well as vacant stands for buyers to purchase and build properties that suit their needs. Some of these estates have schools on-site such as Curro Monaghan and Monaghan Montessori in Monaghan Farm, Dainfern College at Dainfern Golf & Residential Estate and Reddam Helderfontein at Helderfontein Estate. There are also a number of excellent public and private schools in the Fourways area.
Pam Golding Properties recently sold a secure designer home for R11 million in Helderfontein Estate. The five bedroom property with unobstructed views is situated on the greenbelt. With four 200 litre solar geysers, inverters and a borehole, this home offers sustainable, off-grid living.
The demand for homes in this part of Johannesburg means that sales activity and house price inflation has remained fairly consistent over the past 10 years. “Properties that are priced right continue to sell well, and within a short period of time, reflecting that Fourways does offer value for money, says Woollcott.