Gallo Manor a sound investment for first time buyers

The peaceful, tree-lined suburb of Gallo Manor offers first time buyers and young families an excellent entry to the upmarket Northern Suburbs with very accessible prices ranging between R1.6 million for a comfortable sectional title property to R6m for a spacious family home with all the bells and whistles.

This spacious four bedroom home is perfect for a busy family, boasting a gourmet kitchen, separate scullery, open plan living areas and established garden. A large patio with built-in braai, garaging for four cars and top-class security make this home excellent value at R4.25m

According to Alan Bak, Area Specialist for Lew Geffen Sotherby’s International Realty, an investment of between R2.3m and R3m will buy a comfortable freehold family home on a sizeable erf compared to neighbouring suburbs like Morningside where the entry level price for houses is now nudging the R4m mark.

“In areas like Morningside and Sandton, the only single title homes that are still available for under R4m are those which are much older and are often bought for the land. The houses are then demolished to make way for modern houses which are generally worth at least three times the original price.”

Bak says although 95% of the properties in Gallo Manor are free standing, the few sectional title properties available are in great demand as they also offer excellent value for money.

“According to the Deeds Office, in 2009 the median sale price of sectional title properties was around R1.16m, and despite a slow start to the market recovery, this average had jumped to R1.4m by 2014 and has further increased substantially to R1.7 in 2015 to date.”

Bak adds that these properties are likely to increase in value exponentially in the near future as there is no more land available in the area for further development and the suburb is becoming increasingly popular with investors who are now realising the value for money that Gallo manor still offers.

Lew Geffen, Chairman of Lew Geffen Sotheby’s International Realty says that a major appeal factor in a city where security remains one of the main factors influencing home buying decisions is that Gallo Manor is a high security area with access control.

“Aside from the security aspect, figures from the property data company Lightstone, show that property prices in access controlled areas in Johannesburg have increased on average by 10% more than they have in other areas over the past five years, which makes Gallo Manor a sound investment in both the long and short-term.”

This has resulted in a very cosmopolitan demographic as investors from all walks of life are drawn by the secure upmarket lifestyle and proximity to all the top-class amenities on offer in the Northern Suburbs.

Bak says: “There is a large Jewish community due to the number of synagogues and a Jewish day school (King David) in the area and there has also been an increase in Asian and Muslim buyers as a result of new mosques in Riverclub and Morningside.”

Bordered by Wendywood, Morningside and Woodmead, Gallo Manor is close to the vast Buccleuch Interchange linking the N1, M1 and N3 highways, which offers residents easy access to the busy commercial nodes of Sandton City, Kyalami, Fourways and Midrand, as well as OR Tambo Airport.

There are also many excellent private and government schools in the neighbouring suburbs as well as first-class medical care and myriad shopping facilities such as the Woodmead Value Mart and the Woodmead Super Value Centre.

The suburb is a stone’s throw from the Vodacom World of Golf and the Woodmead Golf Driving Range.

An added attraction is that Gallo Manor has managed to retain an almost park like atmosphere as most properties in this well-maintained suburb boast established gardens with lush lawns and the streets are mostly tree-lined. Adding to this tranquillity is the fact that there is little traffic using Gallo Manor as a thoroughfare, because much of the suburb is cordoned off as a high security area.

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