Location, location a big plus for Erasmuskloof

An investment property in Pretoria’s Erasmuskloof area was recently sold for R1,25m and let to new tenants just 10 days after being listed by the local RealNet franchise.

“And this is pretty much representative of the rapidly rising demand for housing in the area among both homebuyers and tenants,” says franchise manager Goran Despot.

The location of Erasmuskloof, just across the N1 highway from Waterkloof, is key to this demand, because living here affords residents easy access via the freeway system to Centurion, Midrand and even Johannesburg as well as the Pretoria CBD and the Brooklyn and Menlyn office hubs. Both commuting distances and time spent in the traffic are reduced.

“In addition,” he says, “Erasmuskloof is a young suburb, which means that the properties here are relatively modern, with contemporary finishes that require less maintenance, although the area itself is well-treed and pleasant. It is also quite hilly, so many properties here have good views.

“There is also a high level of security, as about 70% of the homes available in the area are sectional title townhouses in gated complexes or duet homes on shared stands.

“And finally, people like living here because everything they need in their daily lives is close by and does not require a long commute. For example, there are three primary schools and a high school within easy reach, two shopping centres including the recently refurbished Castle Walk mall and the large Kloof private hospital.”

These factors of course also make the area as popular with tenants as with potential homebuyers – and consequently a favourite among buy-to-let investors who, Despot says, are returning to the market now in some force.

Prices for the stack simplexes that are particularly popular with young buyers and investors in Erasmuskloof generally start at around R580 000, while those for duplexes and duets range from about R800 000 to R1,5m. The average price of three-bedroom, freehold family homes is around R1,6m although sales at the R2,2m to R2,3m level are not uncommon.

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