select
|

New generation of buyers for Killarney

Killarney in Johannesburg is reinventing itself and, in the process, holding its own in the recessionary climate.


Aadil Moola, co-owner of the new Aida franchise in the suburb says Killarney has shaken off its rather staid image and is being reinvented as a trendy address for young buyers and students. Killarney borders affluent suburbs such as Houghton, Norwood and Parkhurst, and offers mostly high-rise sectional title apartments.


"The suburb is relatively close to the city's two universities and shopping and entertainment centres such as Killarney Mall, Melrose Arch and The Zone. Killarney also offers quick access to the highway and security is good - all these factors are combining to draw students," he says.


Young buyers are migrating to Killarney from other areas, notably the southern suburbs, where Moola and partner Azra Joosub have successfully run an Aida franchise for the past four years. "These buyers are upgrading and are using purchases in Killarney as a stepping stone to upmarket surrounding areas," he says.


Another plus is that most of the apartment blocks in Killarney were built in an era when proportions were generous. Moola says most units measure between 100sqm and 200sqm, which compares very favourably with modern units in other areas where a three-bedroom unit could measure as little as 90sqm. Prices range between R700 000 and R2,5m.


"The vibrancy of the local market and the growing demand for sectional title units have supported prices and we have seen little of the decline reported in other areas," Moola says.


"We have great confidence in the Killarney market and are optimistic that the overall property market will stabilise and improve as result of favourable interest rates and steady recovery of international markets."


Moola completed an engineering degree before studying property investment and practice at Wits. He has expertise in property investment, property law, property developments and property finance.


His partner Joosub holds a post-graduate degree in psychology as well as a higher diploma in human resources management. She joined the Jiga Property group, where she gained experience in property trading and commercial and residential property development, before teaming up with Moola to open the Aida office in Johannesburg's southern suburbs.


Issued by Aida National Franchises



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK