Pretoria East has become popular with young, upcoming professionals and families because of its excellent central position, and now that there is little land left to develop, property values are sure to rise.
This three bedroom, two bathroom home for sale in Pretoria East is situated in the Newmark Estate. The home has two open-plan living areas with a fire place and covered patio with built-in braai. It includes staff quarters and is selling for R2.85 million - click here to view.This is according to IHPC estate agent, Almarie Joubert, who says the majority of the land in Pretoria East is taken up by HOA and sectional title run estates, and there is little or no freestanding property available.
Estates such as Silver Lakes are virtually suburbs in their own right, often covering vast tracts of land and have thousands of homes in them. Silver Lakes Estate covers 337ha and comprises 1 850 homes in it.
Joubert says many estates in Gauteng are now striving to have their own amenities like schools, business areas, retirement villages, and if estates have their own clinic or medical facilities, they would be almost self-sufficient and eliminate the need for residents to travel too far to reach their destinations.
While levies in these types of estates can be high, the lifestyle they offer surpasses living in areas which are not as built up or well serviced, and many are prepared to pay for the added benefits, says Joubert.
This three bedroom, two bathroom home in Newmark Estate has open-plan living areas, fireplace, kitchen with scullery and covered patio with built-in braai. It is on sale for R2.695 million - click here to view.Silver Lakes, in particular, is situated within close proximity to Abbotts and Curro private schools, and the average home here currently sells for R2.5 million to R3.5 million. There are sectional title as well as full title properties available, with sectional titles selling from R1.25 million to R2 million.
Generally, Joubert says she deals with homeowners in their late 20s to mid-30s, and those who are over 45 to 50 years are often already thinking about downsizing to accommodate their later years. Considering many of the homes in this estate can be large - around 800sqm - one would understand the need to downscale as one gets older, she says.
“The investor base in the area is quite large, with many tenants wanting property close to the power station, as some residents live there and commute to Mpumalanga,” she says.
This four bedroom, three bathroom home in Equestria has two open-plan living areas with a fire place, kitchen with scullery, covered patio with built-in braai and private garden. It has two remote-controlled garages and is selling for R2.15 million - click here to view.Joubert says she has dealt with many buyers from America, Europe, Germany and Italy in particular, and this could be attributed to the fact that this area is well known for its ‘embassy boulevard’ in central Pretoria.
There is a large rental market in Pretoria East which comprises a mix of students, young professionals and foreign corporate tenants, she says.
Rentals can range from R4 500 to R10 000 in the younger market, and young families pay from R11 000 to R20 000 per month, with the corporate clients willing to pay up to R55 000 per month.
Pretoria East is an excellent area to invest in, with its younger look and newer developments, and its popularity is sure to increase, says Joubert.
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