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Prices rise as more buyers aspire to Bedfordview

The huge commercial investments being made in key nodes in Bedfordview and the surrounding industrial areas are giving the local residential property market a welcome boost.
 
So says Mike Dobbin, owner of the local RealNet franchise, who notes:

“New factories, warehouses, offices and retail venues are being built on the doorstep of Bedfordview in the Greenhills Industrial Estate and Meadowdale, while existing shopping precincts undergo multimillion-rand upgrades.


This magnificent home currently under construction in Upper Bedfordview is for sale through RealNet for R18,75m
 

“This bodes very well for the local residential market and already we are seeing record prices being achieved for top quality properties here. We are also seeing many more high-end properties being placed on the market now, such as a newly-built home priced at R18,75m, for which we have an exclusive mandate (see photo).”
 
The huge Eastgate mall, which is Bedfordview’s premier shopping destination, will shortly be expanded, he notes, to include an IMAX Theatre, two new Cine Prestige theatres and new SterKinekortheatres, as well as a huge new Edgars store.
 
“In addition,the soon to be launched Oriental Shopping Centre in Bruma will bolster the already considerable Chinese community in Bedfordview, which also has large Italian, Greek and Lebanese communities contributing to a vibrant cosmopolitan ambience with many tennis, bowls and social clubs and a multitude of top eateries.”
 
Bedfordview also offers many open spaces like the Vodacom Driving Range and Gilloolly’s Farm, as well as one of the biggest Virgin Active gyms in SA.“And another very strong driver of the local property market is the presence of excellent schools, including St Benedict’s for boys, St Andrew’s for girls, Bedfordview Primary, Leeuenhof, Saheti, Bishop Bavin, Redham House and Bedfordview Christian School.”
 
Dobbin also says that while Bedfordview is almost fully developed, there are still a few property development opportunities. “We are seeing a trend of developers building six to 12 cluster homes on one site, offering luxury accommodation with the emphasis on ‘green’ technologies and security.
 
“Typically these clusters range in size from 350sqm to around 600sqm and are priced at R4,5m and R7,65m, which is an sure sign that Bedfordview is once again attracting a more affluent category of buyers who really see it as the ‘Sandhurst of Ekhurhuleni’ - and don’t in any way consider luxury finishes such as marble countertops and bathrooms as overcapitalisation.”


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