Sandton. Africa’s richest square mile. Arguably South Africa’s most desired living area. The place for those who made it, those who are still trying to make it, and everyone in between. Where gourmet restaurants and happening nightspots combine to offer every resident something unique.
Not only is Sandton a great place to work and play, but it’s also a great place to live: modern living spaces offer residents a young and vibrant lifestyle, whilst its leafy suburbs offer families secure and upmarket living space. Leadhome University has researched property sales data in Sandton over the last 10 years, and it’s clear that an investment in Sandton property provides an opportunity to generate strong returns.
Superior growth over the long term
Over the period of our research, the value of the average property in Sandton grew at 8.4% per year, exceeding that of the rest of Joburg over the same period by 1.1% (Joburg: 7.3%). The average price of a freestanding home in Sandton is currently R3,172,000 (Joburg average: R1,881,000), whilst the average price of a sectional scheme property is R1,213,000 (Joburg average: R868,000).
Similar to what we have seen in our research on Joburg properties, there has been aggressive growth in the Sandton property market over the last 2 years. Between 2013 and 2015 the annual growth rate of freestanding properties has accelerated to 10.1% p.a. (2006-2015: 9.0% p.a.), whilst sectional schemes’ annual growth rate has increased to 10.8% (2006-2015: 7.9%).
What does this mean for you?
If you invested in a property in Sandton you made a very smart move: Sandton continues to be the destination of choice for international financial services giants that invest in Africa, and there doesn’t seem to be an end in sight. If you are considering selling your property, Leadhome’s Local Property Experts will be delighted to do a free, no obligation valuation for you. Understanding the true value of your home is the first step in achieving the best possible result from your investment!
