Estate Living Magazine Estate Living Issue 28 April - Page 18

In northern Pretoria, Sencon Een’s Newstead in Menlo Park offers double-storey and single-storey ground floor homes and one-bedroom flats priced from around R 1.5 million to R 2.42 million. The new complex is near major access roads, the N1, shopping centres, restaurants, schools and the University of Pretoria campus. Like most other aspiring property owners, buyers within the R 1.5 million to R 2 million are after convenience and mixed-used spaces, says Stopforth. “They are looking for the latest in technology, connectivity and security. “Increasingly, mixed-use precincts are offering all these benefits,” he says. “We see many investors and first-time buyers opting for mixed-use developments, where you can live, work and play in the same precinct.” Rental yields Amdec’s One on Whiteley at Melrose Arch is drawing attention, despite prices being a little higher – with apartments selling from just below R 2 million. “Located within Melrose Arch, each apartment offers urban living, ideal for working professionals and corporate long-stay tenants, affording investors excellent rental yields and capital growth.” Modern finishes and a sense of space are important too, says Combrinck. “Our apartment schemes at Sitari offer two- Despite his confidence in the sub-R2m property market, Seeff notes that this segment is susceptible to financial strain. “Most buyers in this market are reliant on home loans. Qualification is an issue, he says, referring to consumers being hit by the increasing cost of living and a subdued economic climate. “Getting the cash together for a deposit and transaction costs is also a challenge to this market.” Miriam Mannak bedroom units with one or two bathrooms, as well as three- bedroom and two-bathroom ground floor apartments with exclusive gardens that feel like homes. All feature high-quality finishes and include Smeg or Miele ovens, and Grohe taps.” The price range is from R 1.2 million to R 2.3 million. Mixed use Pam Golding’s The Regency in Menlyn, northern Pretoria, is another good example of a mixed-use development that caters for homeowners in the R 1.5 million to R 2 million price range. Once completed in March 2018, the complex – which offers units priced between R 1.2 million and R 2.8 million – will boast a swimming pool, gym, restaurant, and shuttle services to the Gautrain Station and Menlyn Park Shopping Centre. 18 | www.estate-living.com “There is a pool of buyers desperate to find homes in this price range” Kim Woods, brand manager, Tyson Properties Durban