Rosebank is cementing its reputation as a top experience destination with an influx of local and international businesses adding to the youthful, modern and trendy edge of one of Joburg's oldest suburbs.
It's a great place to live
Bond originators, BetterBond, have noted an interesting trend in buyer behaviour and demographics in the area as of late.
“Property data from credit bureau TPN indicates that sectional title properties are more popular, with transaction volumes up from 2020,” says Carl Coetzee, CEO of BetterBond.
“Of the properties in Rosebank, 77.08% are investment properties and 52.3% are rental properties.
According to Property24 Trends Data, some 37% of the buyers in the last six months have been between the ages of 18 and 35, suggesting that Rosebank is becoming the next "it" spot among young professionals and first-home buyers, adds Coetzee.
Sellers, however, are at the other end of the age spectrum, with almost 50% being 50-64 years old, 26.3% being 36-49 years old and 10.5% being 18-35 years old.
“This too suggests that Rosebank is an up-and-coming suburb that appeals to a younger homeowner or savvy investor.”
There are currently more than 178 residential listings for Rosebank on Property24. The average asking price for a property in this area is about R3.22 milion, while the average sale price in 2020 was about R2.116 million.
"Millennials are starting to move into the area as more apartments become available on roads such as Tyrwhitt Ave. This street is conveniently located within walking distance of the ever-popular The Zone shopping centre and Rosebank Mall. Both centres are home to a variety of stores and eateries that appeal to the work-from-anywhere generation."
The new Soko District also opened in the Rosebank Mall at end of July, bring to life brands that include environmentally friendly Nu Nues, Annapatat Kids, the Oliver Vagary collection and ceramic studio, Rialheim. Flight, Just Rrrraw Chocolate, Darling Sweet and The Lollipop League will tantalise your tastebuds while luxury fashion brand Mahone The Quiet Junkie will showcase their locally manufactured clothing. Further fashion and apparel brands include, Bummel Shoes, Mós Clothing, Kayla Stam, KoiKoi Clothing, Danielle Frylinck, Era by DJ Zinhle and Ledikana.
It’s a great place to dine out
For those who love to eat out, the area is home to some of the best-loved eateries in the city. Lexi’s Cafe is a popular hangout for those wanting healthier dining options while world-renowned Luke Dale Roberts is getting ready to open his Ethos restaurant.
Joining these soon will be OUI Bar & KTCHN and a stunning Rooftop Bar & Terrace. Both of these will open at the soon-to-launch Radisson RED Rosebank. Adding to the appeal of this is the fact that this will be the first RED in Gauteng and only the second RED to hit African soil after Radisson RED Cape Town at the V&A Waterfront. The new hotel will be situated at Oxford Parks, another vibrant precinct in the Rosebank area. Radisson RED is a unique hotel concept, created for the next generation of travellers with a modern mindset and an always-on attitude, which is why it’s perfectly suited to Rosebank’s new era.
It’s perfect for the corporate HQ
A number of leading companies have also set up their headquarters in Rosebank. Sony Music and Life Healthcare have recently moved into the area, while serviced office space operator, The Business Exchange, have taken out large spaces in the area because of the convenience of being in Rosebank. It’s proximity to the Gautrain Station is a huge drawcard for businesses and developers.
It’s artsy
The area is also becoming a highly popular art haven. There’s the popular Keyes Art Mile, which includes a number of local galleries and exhibitions including the Everard Read, Circa, Goodman Gallery, and TMRW galleries to name a few.
A new addition to the art scene is a massive angel wing sculpture by renowned artist, Usha Seejarim. This magnificent piece is a permanent installation in front of Radisson RED. The hotel will also be home to a number of exhibitions once it opens within the next couple of weeks and will include works by Marlene Steyn and Prince Gyasi for its opening.
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*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions.
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