Thinking of investing in property? These are the top five areas to invest in Gauteng right now….
Melville: Melville is rebounding from its slow decline from its halcyon days of the late eighties and early nineties back into a new and different but undeniable resurgence. Like all areas in the early throes of revival, it is enjoying a disproportionately high rate of appreciation in property values and offers many renovation opportunities! The suburb holds a sentimental pull for many of its inhabitants and is characterised by people who could afford to live in more expensive communities, but choose to live in Melville. The allure for many is the mix of historical character homes with pressed ceilings, wrap around porches and wooden floors and an artistic, bohemian neighbourhood vibe. Many investors have been drawn to Melville of late and find, if they buy right or at the less expensive end of the market, it's hard to over- improve and easy to make a profit after a quality renovation or development. All areas surrounding Menlyn Mall in Pretoria East: A tremendous amount of development is taking place in the areas surrounding Menlyn, inclusive of the Menlyn Main development which includes a casino. All suburbs in the proximity of Menlyn are in high demand as a result of the job opportunities that will be created here. Suburbs include Garsfontein, Menlo Park, Alphen Park, Newlands, Constantia Park, and Ashlea Gardens. Paulshof: This suburb is nestled between Sandton, Fourways and Midrand and great property can be found for under R2 million. The location is ideal and the value is fantastic. Bedfordview: Large houses on 4000 square metre stands are selling at bargain basement prices in Bedfordview! Patient investors can apply for rezoning and fit up to eight cluster units on one of these sites with individual units selling at the same price as the original land purchase! Eco Park in Centurion: Property here is affordable, centrally situated to all schools, malls and highways and is achieving excellent returns of between 9% and 10% on resales and rentals!
