select
|

Pretoria's Orchards and Booysens are blooming

Residential development in Orchards, north of Pretoria, is "exploding" as developers respond to huge demand from first-time buyers in the affordable market.

Willie du Plessis, who holds the local RealNet franchise, says the quick development of the area the past five years can be attributed to the fact that it is on the far urban edge, with lots of room for expansion. And, he adds, its popularity can be ascribed to the fact that upwardly mobile buyers from Soshanguve view the area as a stepping stone to larger properties in Pretoria North proper or areas to the south, closer to the CBD.

Homes are typically compact - two or three bedroom homes of around 60sqm - and are priced at between R400 000 to R500 000. Bank repossessions are sold at around R300 000 and sometimes for as little as R250 000, which opens up the market for qualifying lower-income buyers.

Du Plessis, who acquired the RealNet franchise for the western parts of the Moot earlier this year, says the flow from Orchards to suburbs in the Moot area particularly benefits Booysens. Close to the Mabopane highway, it offers solid homes in an established suburb at affordable prices.

Many buyers are public servants with families who qualify for bonds to buy homes in the R500 000 to R700 000 price range. Homes in Booysens are substantially larger than in Orchards and range up to around 120sqm. Another draw card for buyers from Orchards is the large stands that range from 1000 to 2500sqm.

Four-bedroom homes on the larger “burger erven” of 2500sqm are fetching prices of up to R850 000 but developers have seen a gap in the market and are buying up such properties. Existing homes are then demolished and the land is subdivided into four plots on which units are built and sold at prices from R550 000 each.

Such newer units find ready buyers, says Du Plessis, because prices are market-related and some buyers are willing to swap the luxury of a larger stand for the benefit of a brand-new home.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 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.
        
    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