Author: Seeff, 26 April 2017, News
Menlyn Maine nearly fully developed and has positive effect on surrounding properties.
“This mega development further comprises of commercial space, retail space, shopping space, a gym, residential apartments, a hotel, an entertainment complex and scenic parklands and is widely regarded as the ‘Sandton City’ of Pretoria”.
Van der Linde continues that while the suburbs surrounding Menlyn have always been in high demand, interest in the area is now unprecedented due to the tremendous amount of development lately.
Jacques Germishuys, an agent for Seeff Pretoria East, says all the development in the area has had a positive effect on property values and demand for property in suburbs like Garsfontein, Menlo Park, Alphen Park, Newlands, Constantia Park and Ashlea Gardens has skyrocketed.
“Owners in these areas are converting and renovating their older units to keep them in line with the latest property trends and with demand for such units outstripping supply by a large margin, securing a rental property in any of these areas has become difficult and very competitive.
“It is no secret that homeowners in these areas are asking a premium for their properties, but tenants and buyers are paying it with a smile because everyone is realising the value of investing in any one of these areas”.
Dulcie Oosthuizen, another agent for Seeff, says the area is seeing quite a few new upmarket apartment developments that can fetch monthly rentals of between R12 000 and R15 000, but that there is a shortage of more affordable accommodation for people who will be working in the shops and at the casino and who will not necessarily be able to afford units priced from R7500 upwards.
Van der Linde concludes by saying that one simply cannot go wrong by investing in any property in any area surrounding Menlyn or in Menlyn itself as this suburb is only going from strength to strength.