Real Estate Investor Magazine South Africa February 2014 | Page 33

RESIDENTIAL

“Sandton and its residential neighbourhoods have
become areas where people work, live,
eat, shop and play”

Townhouses with two to three bedrooms at
rental rates of between R8 000 and R15 000 per
month is also in high demand, he adds. Cluster
homes at rates of between R10 000 and R20 000
per month and free standing homes in estates,
priced at around R20 000 per month is also
seeing significant demand.
There is a real opportunity for residential
developers, says Vining, but it is vital that they
work with reputable residential real estate
consultants from the onset. Market research and
insight into what is in demand and at what rental
rates and sales prices is critical for development to
succeed, continues Vining.
“Our developments team often work on large
pieces of residential land and developments from
Sandton through to Midrand and this is yielding
results. A goo