Sandton is often described as the quintessential live, work and play destination in Johannesburg and with its CBD known as the financial powerhouse of the city, it's a popular metropole for home-owners.
Based on search activity and the median asking prices of residential property listings, Private Property has analysed the data for what you can expect to fork out for a stand-alone house, flat or home within a complex in the 10 most popular suburbs in Sandton.
Magaliessig (median price: R1 920 000)
The Magaliessig Action Forum has implemented some excellent security initiatives, which has made the suburb attractive to those who are concerned about safety. This suburb is also close to shops and schools and public transport is easily accessible.
Asking price by property type:
House: R3 199 000
Flat: R999 000
Complex: R2 099 000
River Club (R3 900 000)
There has been a steady rise residential development is River Club and this has made it attractive to professionals and young families.
Although it is located within an easily commutable distance to Sandton and Bryanston, the tree-lined streets offer an appealing contrast to the hustle and bustle of those commercial centres.
Asking price by property type:
House: R4 499 500
Flat: R1 699 000
Complex: R2 990 000
Parkmore (R3 699 000)
The peaceful suburb of Parkmore is popular with families due to its convenient location and suburban lifestyle. Parkmore has real park life, with a beautiful spruit and open areas, along with a strip of restaurants and bars.
Asking price by property type:
House: R3 724 500
Flat: R1 420 000
Complex: R2 175 000
Gallo Manor (R2 900 000)
According to a recent report by Lew Geffen Sotheby's International Realty, Gallo Manor offered the highest price growth of all Sandton suburbs last year, with 38 sales for an average price of R2,75 million, 24% more than the R2,21 million realised by 34 transactions in 2016. Much of the area is boomed-off for security and the suburb offers a tranquil lifestyle, with tree-lined streets and large gardens.
Asking price by property type:
House: R2 999 999
Flat: R1 550 000
Complex: R2 495 000
Woodmead (R3 300 000)
Many residents who move to Woodmead tend to live in the area for a long time, largely due to the fact that its infrastructure and close proximity to major nodes greatly facilitates daily work commutes.
Although large parts of Woodmead are commercial in nature, its residential property market is still appealing, due to the Johannesburg Country Club, the presence of good schools and nearby retail and restaurant options.
Asking price by property type:
House: R4 200 000
Flat: R1 449 000
Complex: R3 100 000
The post What it will cost to buy a home in Sandton appeared first on DESTINY Magazine.
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