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Kempton Park gears up for more growth

Planned residential and commercial development in Kempton Park will boost the town’s already buoyant property market over the next decade.


This stunning four-bedroom home in one of Kempton Park’s most sought-after estates was recently sold by RealNet Glen Erasmia for R2,75m. It features four living areas, two bathrooms, and open-plan kitchen and staff accommodation as well as a pool and double garage.
 
A new regional mall that will rival the East Rand Mall in Boksburg in size, as well as several new residential developments and schools,are on the drawing board for Glen Erasmia and its extensions, notes Magda Stoffberg of the local RealNet franchise.
 
"The planned developments are boosting buyer confidence in what is already a prime location thanks to upgraded road infrastructure that allows quick access to the freeway network and OR Tambo International airport in Kempton Park. Buyers are finding good property value in the town and there is a wide range of properties to suit most needs and budgets."
 
Stoffberg, whose franchise specialises in upmarket estate properties, says buyers with a long-term view see excellent prospects for value growth in all price ranges in this area.
 
"Another factor underpinning the local market is the healthy migration of home buyers within Kempton Park itself. As residents climb the economic ladder, they upgrade to suburbs that befit their new circumstances. We see movement out of the surrounding townships and into suburbs offering affordable housing, and at the same time, buyers in those lower-priced suburbs upgrading to solid middle and upper-middle class suburbs.


3 Bedroom Cluster for sale in Glen Erasmia
 
“Top earning professionals and businessmen are also increasingly migrating from high-value suburbs to the various secure estates in Glen Erasmia and Glen Marais."
 
She says the Boulevard Estate in Glen Erasmia, the only local residential estate with a triple-A rating for security, is currently a top destination in Kempton Park for buyers who view a secure lifestyle as non-negotiable.Home prices in the estate start at around R2m and escalate to around R12m for top-of-the-range properties. Most current activity is in the R2,5m to R3m range (see photo).
 
Other popular estates in the area include Glen Eagle Estate, Blue Gill and the Blue Gill Waterfront.
 
At the lower end of the Kempton Park market, buyers are finding good value in starter apartments in the CBD at prices as low as R200 000. Townhouses at prices from R560 000 and solid family homes at prices from R1,3m are currently also popular choices
 
Buyers on the lookout for bargains with a view to strong capital growth over the next few years are targeting distressed properties, Stoffberg says, as these are often sold at something of a discount to current market value.


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