Private Property's Neighbourhoods - Focus on Fourways

Private Property South Africa
Private Property Reporter

Reporter: As a neighbourhood potentially for living there, what makes this area so high in demand for property owners?

Simon Bray: One of the things you touched on actually was just the fun and the entertainment value that Fourways offers. You've got a lot of brilliant attractions in the area. You've got Montecasino, you've got a Fourways mall, Broad Acres, Cedar Lake. So there's an abundance of activities for you and your family to enjoy on a weekend. So I think that's one of the draw cards around Fourways area. The other is just that it's certainly a growth node in Johannesburg. Johannesburg is booming as in economy and in the property market, and you're seeing a lot of growth. Most of it is happening in that northern hub between Johannesburg CBD and Pretoria. Fourways sits slap in the middle there and it's one of the fastest growing areas. It's certainly one of the areas we're watching closely from a property point of view and you can see why. A lot of people moving in to the area when they want to purchase their first home. It's a great investment opportunity as well.

I think it's also nice that there you've got the airport close by - Lanseria Airport just down the road.

That's true. You've actually got two options - you can either fly to O.R Tambo or Lanseria.

So looking at the property market, what type of property would the Fourways area include?

Well I think is one of the most interesting things about the area and how it's developing. The traditional mindset of South Africans has been, "Give me this big four or five bedroom home. Give me a big piece of land and that's how I want to live." But what we're seeing in Fourways is a trend towards more modern living. Living that we might see in some first world nations in Europe or the States. You're seeing smaller homes, energy efficient homes, easier to maintain. Certainly a trend towards sectional title and community living for the safety and security options that that offers. Fourways is interesting in that respect. We're definitely seeing all the new growth in sectional title and smaller more modern living.

I think another thing that makes this such an attractive area is the fact that it's one of the fastest growing business and also residential areas in South Africa.

Absolutely. The growth has been phenomenal. I think we've been talking a little bit about it already, but there's definitely no end in sight. It really does continue to grow and boom and that's driving one area of the market, which is very interesting - corporate rentals. Fourways is becoming very sought after for corporates to place the employees or their contract workers in. So you'll find the options to invest in property, particularly those sectional title lock up and go type properties. Then place the corporate rental are very high. That's obviously if you are a private investor, that's a great thing to know that the rental is backed not only by a private individual, but by ultimately a big business, a big corporate. So that's a good investment opportunity as well.

Well, it’s definitely got the makeup of the perfect neighbourhood. But in terms of the type of person, the demographic, what would those areas suit most?

Typically this is a first time buyers market or certainly young families market. They're looking for the safety and security. They're looking for the access to the corporate environments close by. So you are seeing a lot of people between 30 and 40 buying into the neighbourhood. In fact, when we profiled Fourways we chose South African motor cross champion, Brian Capper and his family as he's just moved into the area. One of the things he particularly likes is, as you mentioned, the Lanseria airport just outside, but that whole area out to the Cradle of Humankind is a great cycling opportunity. Cycling is the fastest growing sport in South Africa. So you're a lot of guys living in the Fourways areas so that they can cycle every morning.

Lastly just your tip of the day when it comes to Fourways.

With any neighbourhood, it's important to check out what the key elements of that neighbourhood are before you move in. When you're talking Fourways, a great opportunity that I think people are missing is this corporate rental opportunity. So our tip of the day would certainly be, look for a great investment opportunity and place a corporate tenant.

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Explore neighbourhoods mentioned in this article

Fourways
Exclusivity and entertainment
The Fourways neighburhood includes the suburbs of Sunninghill, Lonehill, Fourways, Broadacres, Craigavon and Dainfern. It is an exclusive, upmarket area in which property is always in high demand. The neighbourhood provides just about the full spectrum of amenities, night life and entertainment in a beautiful, tranquil setting. There is an abundance of shopping malls, office parks, hotels and lodges for those with a discerning taste. Residents of the area have a choice of private schools and colleges, and can also apply to admit their children to Bryanston's elite schools.
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