Real Estate Investor Magazine South Africa February/March 2019 | Page 19

JOHANNESBURG
One On Whiteley Melrose Arch
apartment and from R1.575 million to R1.63 million for
76sqm one bedroom, one bathroom units. Two bedroom
two bathroom units from 102 to 124 square metres in size
are priced from R1.968 million to R2.83 million.
ABSA Towers & Jewel City – Diversity ( Johannesburg,
CBD)
Diversity Urban Property Fund has invested R2 billion into
Jo’burg inner-city developments into the ABSA Towers
Main and Jewel City to be redeveloped and linked to
Maboneng. This investment, the largest in the Johannesburg
CBD for some years, in the next 18 months alone, with
its 30 storey ABSA Towers Main and Jewel City projects
as well as R400m of residential accommodation under
development in Maboneng, Divercity will launch more
than 75,000sqm of new residential space in Jo’burg with
more than 2,500 apartments in total.
Units will comprise of 13 two-bedroom, two-bathroom
apartments priced from R2.2 million to R2.8 million, and
two penthouse apartments comprising three bedrooms and
three bathrooms, each with a private rooftop terrace and
garden with panoramic views across Johannesburg, priced
between R5.3 million and R5.7 million.
The 24-hour economy
As people increasingly adopt a live-work-play lifestyle,
we are starting to see the growth of decentralised hubs
in which there is a growing 24-hour economy. This is a
major positive for property owners as it means that it is
possible to get more use out of an existing property – not
just for working or living but instead a single building
or development is used for living, working, shopping,
exercising and entertainment.
For investors, in today’s economic environment it’s
important to consider understanding the type of property
that is in demand for rent. For example first-time
apartments and homes, student accommodation, retirement
units and high-end sectional title units (for downsizers and
lifestyle changers). We know that properties at the right
price, right location, ease of access and avoidance of any
congestion factors will always be in consistently in demand.
SOURCES Stats SA; Lightstone; Pam Golding, Jawitz;
Rawson; RE/MAX; Legacy; FWJK; FutureDFev; Regiments;
RenProp; Diversity: Amdec
Don’t miss REIM March edition where we fearure Cape Town investment hot spots and new
developments; April we feature Kwazulu-Natal; May we feature Pretoria and June Port Elizabeth
and other key nodes
SA Real Estate Investor Magazine FEBRUARY/MARCH 2019
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