PROPERTY NEWS - The property landscape in Johannesburg has completely changed since the turn of the century and, for the most part, it's now a continuous urban sprawl with very few open spaces or vacant land.
This is according to Charlene Leibman, area specialist for Lew Geffen Sotheby’s International Realty in Senderwood, Bedford Park and St Andrews on the East Rand.
“Because of this, we are increasingly finding that properties near outdoor recreational facilities tend to have a competitive edge in the marketplace over similar properties which don’t enjoy close proximity.”
Leibman says that an excellent example of the impact of this emergent trend was the redevelopment Huddle Park, which positively impacted the property market not only in Linksfield where the park is situated, but also in the adjacent suburbs of Senderwood, St Andrews, Bedford Park.
“The launch of Huddle Park Golf & Recreation in 2013 quite literally catapulted the area from its comfortable mid-market status to the top end of the market in line with northern Johannesburg suburbs like Hyde Park.
Leibman says that an excellent example of the impact of this emergent trend was the redevelopment Huddle Park, which positively impacted the property market not only in Linksfield where the park is situated, but also in the adjacent suburbs of Senderwood, St Andrews, Bedford Park.
“The launch of Huddle Park Golf & Recreation in 2013 quite literally catapulted the area from its comfortable mid-market status to the top end of the market in line with northern Johannesburg suburbs like Hyde Park.
Surge in demand
“In the past three years, we have seen a surge in demand for residential property, with many original homes snapped up for between R3m and R6m, only to be torn down and replaced with modern houses, some of which are valued as high as between R25m and R30m.”
According to Leibman, many of the larger stands are also being subdivided for small and exclusive cluster developments.
“In the past three years, we have seen a surge in demand for residential property, with many original homes snapped up for between R3m and R6m, only to be torn down and replaced with modern houses, some of which are valued as high as between R25m and R30m.”
According to Leibman, many of the larger stands are also being subdivided for small and exclusive cluster developments.
