Great investment opportunities in Pretoria’s northern suburbs

Due to the current housing shortage in the area, prices in Pretoria Moot will escalate over the next 12 to 18 months, says Hendrik Havenga, Broker/Owner of RE/MAX Blue Chip Realty, whose office services the Pretoria Moot and Akasia areas.
According to Havenga, the Moot area is a safe, well-established one with very few new developments or properties available to buyers. He notes that due to the fact that there is not a lot of vacant land available, buyers who want to purchase property in the area are limited to existing properties. Havenga says that the shortage of properties, along with the fact that new developments in the area are scarce, will likely push the area’s property prices up in the near future.  
He points out that the large majority of properties in Moot are older, freestanding homes that are situated on large stands. “Many of the current homeowners have lived in Pretoria Moot for years, have paid off their bonds and can afford to renovate their homes. “This has been a trend that has developed in the area, along with the subdivision of the property. Often the only way that new buyers can find a piece of land on which to build is by purchasing a section of property from an existing homeowner,” says Havenga. “Much like the area, the consumers that buy in Pretoria Moot are established and conservative buyers looking for their ideal family home.”
In contrast to Pretoria Moot, the suburb of Akasia is booming with new developments. “Developers are purchasing vacant land and introducing entry-level and mid-range homes into the area. This has opened up a lot of investment opportunity and so it is not surprising that we have seen a great number of first-time buyers interested in these developments.  The new developments along with older, entry-level homes in need of renovation have made the area very popular with young people wanting to get into the market. Even those who are currently unable to buy property here are moving to the area, which in turn is leading to strong rental demand,” says Havenga.
According to Havenga, the popularity of high-rise developments among the younger generation has led to some developments in Pretoria being primarily focused on students. “Currently RE/MAX Blue Chip Realty is involved in a multi-million rand apartment project in the Pretoria CBD that is specifically designed for student living and the location of the apartments makes it easy for students to commute to the university,” he says.

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that sectional-title units that are located in secure complexes within proximity to a university campus as well as other amenities are particularly sought-after among students across the country. From an investment perspective these types of units generally show healthy returns over the long term.

Havenga says that due to the potential of these developments there has been an interest from investment groups looking to purchase bulk investment properties. “The broad appeal of the area and the current development boom has caught the attention of serious investors who are looking to capitalise on the area’s remarkable growth,” he says. “

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