Plenty of Property Options in Upmarket Sandown

If the first rule of real estate is “location, location, location”, Sandown’s burgeoning popularity and property values can be directly attributed to the suburb’s prime position in the heart of theJohannesburg’s northern suburbs, straddling both Morningside and Sandton.

This is according to Stan Rosenberg, area specialist for Lew Geffen Sotheby’s International Realty, who says the erstwhile quiet residential area has dramatically transformed since the Johannesburg Stock Exchange relocated to the area in 2000, and it’s now both a popular residential area and a thriving commercial hub, which is home to several A-grade office developments and their blue chip corporate tenants.

Rosenberg says this has changed Sandown’s traditional residential property landscape of spacious freehold family homes to now include modern high-rise sectional title developments, cluster complexes and security estates, as well as several 5-star hotels to accommodate the exponential increase in business tourism to the area.

Marc Wachenheimer, co-area specialist, says Sandown offers residential investors a wide range of property options, from modest townhouses and family-friendly cluster homes, to ultra-modern luxury penthouses and spacious, well-appointed houses on generous erven.

Wachenheimer says at the entry level, first-time investors can still buy a one bedroom apartment in an older complex for around R1 million, while half a million more will secure a modern studio apartment in a new development.

“There is a strong mid-level market and young professionals with school-age children make up the bulk of new investors. They will spend R2.3 million to R4.5 million on an older three bedroom townhouse or modern two bedroom apartment in a newer development,” says Wachenheimer.

“The top end of the market is also well catered for, and we are now seeing record prices realised, which tip sought-after properties into the elite trophy home bracket, especially the opulent penthouses in newer buildings like the iconic Michelangelo Towers.”

Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, says the increased demand coupled with the shortage of stock is driving prices even higher, and as there is no more available land for further development.

He says this means new apartment buildings and cluster developments can only be built when older houses and complexes come on the market and can be torn down or redeveloped.

“There is also a strong rental market in Sandown, driven by foreign corporates and young professionals seeking accommodation in close proximity to Gauteng’s premier business centre.”

Geffen says apartment living is increasingly sought after, and in areas like Sandown the rental corporate rental market can be highly lucrative.

“However, it must be borne in mind that this sector of the market is selective and demands not only upmarket accommodation, often furnished, but also outstanding security, convenience and lifestyle,” he says.

Geffen says Sandown is within walking distance of Sandton Square, Sandton City shopping mall, the Sandton Convention Centre and Grayston shopping Centre, as well as the Gautrain Station, which offers residents easy access to OR Tambo airport, Pretoria and the city centre.

“It’s also within close proximity to all the major highways and arterial routes of the city, offering a quick commute to the significant business nodes of Johannesburg.”

An additional drawcard for professionals with young children is the many excellent schools nearby, including Stepping Stones and Parkmore Nursery Schools, Redhill, Montrose Primary,Bryanston High, Grayston Prep, St Stithian’s Schools and Crawford College.

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