In challenging market conditions, Randburg has become a popular destination for both home and investment buyers for a number of reasons, not least because most of its suburbs offer excellent value and the market here has consistently performed and held its own in a tough economic climate.
“Right now, when Gauteng’s market is more subdued than it’s been in many years, Randburg offers the whole trifecta – value for money, investment potential and lifestyle,” says Cobus Odendaal, CEO of Lew Geffen Sotheby’s International Realty in Randburg and Johannesburg.
“In recent years, Randburg become increasingly attractive to first-time buyers looking to get a foot on the property ladder, but savvy investors are realising that the area has very diverse housing options to suit all pockets.
“Whether you're a first-time homebuyer, upgrading to a larger property, downgrading as empty-nesters or seeking an investment opportunity, Randburg's diverse housing market caters to all needs, life stages and lifestyles.
Odendaal says that Randburg also presents compelling investment opportunities for property buyers seeking capital appreciation and rental income.
“There is currently strong rental demand in Randburg because the area's proximity to major business hubs, including Sandton and Rosebank, makes it an attractive location for professionals and expatriates looking for convenient housing options.
“Additionally, Randburg's growing popularity and development initiatives contribute to the area's long-term investment potential, with property values expected to appreciate over time.”
He adds that Randburg also benefits from robust infrastructure and ongoing development projects aimed at enhancing connectivity and improving amenities.
“Infrastructure upgrades, such as road expansions, public transportation improvements, and urban renewal initiatives, contribute to Randburg's appeal as a desirable residential and investment destination.
“And the area's development potential and government investment in infrastructure further support its growth trajectory and attractiveness to buyers.”
Odendaal says that there are three suburbs, in particular, which offer excellent options for home buyers and investors as well those looking for a renovation project, although diamonds in the rough are becoming very scarce.
Linden
Linden is one of Johannesburg’s prettiest and oldest suburbs and, even though it’s only a stone’s throw from popular commercial hubs like Sandton, Northcliff and Melville, it has retained its original essence and charm.
It has long been one of Randburg’s most popular suburbs with almost half (48%) of existing owners have lived there for more than 11 years. And the fact that 25% of current residents bought in the suburb within the past five years, clearly indicates the areas ongoing appeal.
Many of Linden’s beautiful houses have been sympathetically restored and the suburb also offers a wide selection of clusters, town houses and apartments, all in a friendly and secure environment.
The average house price is around R2.7m but you can get a lovely three-bedroom house for R2.3m and a four-bedroomed house from about R3.1m.
Apartments start at around R795 000 for a one-bedroom unit and townhouses range between R800 000 and R2.3m.
And investment-wise the market has remained stable over the past decade with consistent growth and a steady increase in the median property prices.
Find your ideal Linden property here
Randpark Ridge
Randpark Ridge is a quiet, well-established suburb which offers easy access to the main arterial routes and also boasts an impressive network of shopping malls and restaurants.
The suburb is home to four sought-after schools, namely Rand Park High School along with Rand Park Primary School which serve as the area's public schools, and Trinity house High School and Aurora which are well-respected private schools in the area.
Almost 85% of the properties are still freehold, with 23% of those being estate homes and the median house price has risen steadily during the past 10 years and is now around R2m.
Randpark Ridge is very much an aspirant suburb, but first-time buyers can get into the market for under R1m when buying a flat or townhouse or around R1.6m for an older house that needs a little TLC, whilst those looking to upgrade can purchase a stunning three to five-bedroom house for between R2.5m and R3.8m.
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Olivedale
This is another well-established suburb that has quietly been growing in value and attracting investor attention in recent years.
Made up of beautiful tree-lined streets with well-tended pavement and gardens and the freestanding homes are still on sizeable erfs. The property landscape now includes sectional title properties, so there is something to suit all lifestyles and budgets.
You can buy an apartment for between R700 000 and R1.6m, a townhouse for between R800 000 and R2m and houses start at around R1.7m for a property that would benefit from modernisation and for R4m you can purchase a modern family home set in a generous landscaped garden.
Last year the median house price in this characterful suburb reached an all-time high of R2.25m.
Find your ideal Olivedale property here
“Over and above accessible pricing and value for money, Randburg has every amenity that anyone could need and is also very conveniently situated with easy access to major arterials as well as the greater Sandton area,” says Odendaal.
“It also boasts numerous first-rate shopping centres, medical and sports facilities and a selection of top-rated schools and educational institutions, making it an attractive area for families with children.
“From prestigious private schools to quality public schools and international educational facilities, parents have access to a range of educational options to suit their children's needs.”
