Estate Living Magazine New Beginnings - Issue 37 January 2019 | Page 30

P R O P E R T Y
&
I N V E S T M E N T
exchange of Johannesburg. The development is within the
Corridors of Freedom area, and will qualify buyers for a reduction or
holiday period on property rates. It is also part of the Urban Renewal
Zone, which allows purchasers to write off or claim 30% of the
purchase price against taxable income over five years. Prices start
at R695,000.
The Paragon
Madison Place in Observatory has 88 apartments, and prices start
at R1.879 million.
The Paragon has 141 one- and two-bedroom apartments priced
from R2.66 million. The block is encircled by a security fence and
is monitored by guards 24 hours a day. Biometric access and CCTV
surveillance provide added peace of mind. A communal rooftop
pool, braai facilities, a laundry, a common entertainment lounge and
a gym makes this a sought-after place to stay.
Johannesburg
With both the University of the Witwatersrand (Wits) and the
University of Johannesburg (UJ) in the mix, there are plenty of good
investment opportunities.
Investment cost: From R695,000
Top areas: Braamfontein, Richmond, Melville, Westdene/Brixton
The Exchange in Braamfontein is within walking distance of both
universities, and offers 126 upmarket industrial loft-style apartments
in the building that was originally the home of the telephone
Sontonga Lofts in the Braamfontein Lifestyle Precinct is within
walking distance of both universities, public transport, shops,
restaurants and all the attractions of trendy Braamfontein. The loft
conversions start at R725,000. Comprehensive, fully integrated
state-of-the-art security systems include a fully alarmed perimeter
electric fence, 24-hour security and biometric access control, digital
camera coverage of the perimeter of the complex and common
areas, and automated alarm functions.
The also-rans
While Stellenbosch, Cape Town and Johannesburg are the top
areas to look at, Port Elizabeth, Grahamstown and Bloemfontein
are worth investigating, as student accommodation is a scarce
commodity countrywide.
Grahamstown is a small town of 70,000 people, and Rhodes
University has over 8,000 students, with 4,100 in residence. This
year, 109 houses and 40 apartments were sold in the town. Starting
prices for apartments or townhouses are about R800,000.
Nelson Mandela University in Port Elizabeth has 27,000 students,
and the residences can accommodate only 4,000. You could pick
up a small apartment in Summerstrand or Humewood for R450,000.
Bloemfontein is reporting a rising demand for student
accommodation, with 26,000 students attending the Bloemfontein
Campus of the University of the Free State. Areas like Universitas are
seeing old houses being demolished to make way for new blocks of
flats. Apartment prices start at about R450,000.
The Exchange, Braamfontein
Sontonga Lofts, Braamfontein