select
|

'Big Ticket” sales for Pam Golding Properties Gauteng

Comments Dr Andrew Golding, CE of the Pam Golding Property group: “During the months of July and August 2011 we have achieved a number of ‘big ticket’ sales in Johannesburg’s affluent Northern Suburbs, which have further boosted the region’s sales turnover.”

These include the following sales successfully concluded by Pam Golding Properties (PGP): a home in Westcliff which fetched R35 million; a house in Bryanston which sold for R30 million; homes in Sandhurst  which achieved prices of R23.68 million and R16.3 million respectively;  and a home in Houghton Estate which was sold for R16 million. In addition, PGP sold an apartment in Melrose Arch for R22.2 million.

Adds Dr Golding: “Independent sales data reveals that over the past 18 months,approximately 25 percent of all Northern Suburbs sales in the upper end of the market – which in the current market is from approximately R15 million upwards - were concluded by Pam Golding Properties, which is more than double that achieved by any other agency. This is despite the fact that overall, and during this period, the Northern Suburbs experienced a drop-off in sales across all price bands - indicating that in addition to increasing sales we have gained market share as both buyers and sellers continue to favour reputable brands coupled with quality of service,” adds Dr Golding.

Jonathan Davies and Rupert Finnemore, joint area managers for PGP’s Hyde Park office which operates in the Northern Suburbs, comment that those currently seeking luxury homes are mostly local purchasers, although they report some buyers are those relocating back to Gauteng from the Cape Town area, while others are from African countries such as Kenya, Nigeria and Zimbabwe.

Says Davies: “Our buyers are mostly individuals purchasing a primary residence, with some corporate buyers. There is a growing trend towards ‘new money’ or recently acquired wealth flowing into the market via those wanting to acquire residential property at the ‘best’ address available. Location remains key and a prime Hyde Park or Sandhurst address remains highly sought after, however we note that buyers are finding value in the upmarket area of Bryanston, which is also centrally situated and conveniently located in regard to the Sandton CBD.”
Finnemore adds that the top end of the market remains sustainable due to its resilience as sellers are in a position to sit out any downturn in the market and as a result, properties tend to maintain value despite challenging market conditions. He says coupled with this, many purchasers are able to provide a high cash to loan ratio.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
        
    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