Real Estate Investor Magazine South Africa February/March 2019 | Page 17

JOHANNESBURG
to the same period in 2017. Enquiries in Morningside
sectional title homes reaffirm the value for money on offer
and the desirability of the suburb, with properties priced
from R950 000 for a studio or on- bedroom apartment
ranging up to R1.9 million for a two bedroom and two-
bathroom apartment.
Morningside is a predominantly sectional title market
with 71.8% of the entire market stock comprising
apartments, with 32.3% of the homes located within estates,
according to Lightstone. For 2018 to date, the median price
of a sectional title property is R1.55 million with prices
having grown by +8.8% over the past five years.
Saxony Sandton
146 Coleraine - FutureDev (Morningside)
FutureDev an independent turnkey developer that
specialises in buying land, developing, finance and selling in
the greater Sandton and Bryanston area are making a big
impact in the mid-priced market. Their latest development
146 Coleraine their latest of many developments offer
4-Bedroom townhouses with high quality finishes priced
from R3,599,000.
Illovo Central – FWJK (Illovo, Sandton)
Another mixed-use development gem is the newly launched
Illovo Central from FWJK which will consist of 152 brand
new apartments and office units. The apartments range
from 22m² studio apartments priced from R914,000 to
235m² 3-bedroom apartments and 4-bedroom penthouse
apartments from 482m² to 651m². Brand new sectional title
A-Grade office units, available for purchase or lease which
will range from 69m² to entire floors where the footplate is
1950m². The total office component is 4440m².
FOURWAYS AREA
According to Urban Studies research, the Fourways node
is experiencing strong development growth dominated by
the extension of Fourways Mall to the status of a super-
regional mall, which, along with other developments in
the area will see it become one of the most dominant retail
markets in South Africa.
Secure estates such as Steyn City, Dainfern, Fourways
Gardens, Cedar Lakes and Fernbrook continue to be sought
after as they are perceived to be secure with a number of
lifestyle offerings that attract buyers. Steyn City estate
dominates the Fourways skyline. It is located on the edge of
Sandton, connecting Fourways to Lanseria, Broadacres and
Midrand. Steyn City Parkland Residence comprises some
2000 acres of land currently being developed to create the
largest parkland residence in South Africa.
ROSEBANK AREA
The commercial expansion of Rosebank adds to the strong
demand for residential property, especially for the rental
market. This is largely due to the fact that there has been
an influx of close to 18,000 more people into the Rosebank
business node as the ongoing commercial development
takes shape.
Park Central – Redefine Properties (Rosebank)
Another development attracting buyers is Park Central
in Rosebank, also a thriving commercial hub, and as such,
buyers looking to be closer to work opportunities find this
location ideal. The development, which comprises 159
units consisting of studio, one, two- and three-bedroom
apartments as well as prestigious four- bedroom penthouse
apartments, is scheduled for completion in May 2019.
Prices start from R2 million for studios to R19.6 million
for luxury penthouse apartments, with some of these units
including balconies and views overlooking the park.
Oxford Parks – Intaprop (Dunkleld, Rosebank)
Oxford parks is a 300 000 m2 mixed-use precinct comprising
of 200 000 m2 commercial space (including ancillary retail)
and 100 000 m2 residential space. The precinct is bounded
by Oxford, Jellicoe, Cradock and Bompas Roads.
Kent Ridge – Renprop/Intaprop (Dunkeld, Rosebank)
Renprop in a joint venture with Intaprop are developing
80-unit executive apartments situated in Oxford Parks as
the first residential development. It comprises a range of
one to three bedrom units from 56m2 to 188m2 priced
from R1,4 million to R7 million.
One on Whiteley – Amdec Group (Melrose Arch)
Melrose Arch is one of South Africa’s most exclusive
mixed-use precincts, in Johannesburg developed originally
by Amdec Property Group. Amdec has just launched One
on Whiteley which offers apartments measuring between
43sqm and 121 sqm and priced from R2.1 million. It has
over 150 units, consisting of one and two bedrooms, and
is scheduled for completion in August 2019. Measuring
between 43sqm and 121 sqm, the apartments are priced
from R2.1 million. Rentals will start from around R20 000
SA Real Estate Investor Magazine FEBRUARY/MARCH 2019
15