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.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us