Real Estate Investor Magazine South Africa February/March 2019 | Page 16

COVER FEATURE
the best value in terms of property prices and buying
opportunities since the 2008/9 market crash. For those
buying, we continue to see investors, first-time buyers
and those downscaling to smaller properties making
acquisitions in the price ranges from R600  000 to the R2
million mark, with savvy buyers snapping up good deals and
enjoying the wide choice available. In the current market,
investor decision is driven by affordability and rental return.
Due to the migration to cities we expect to see the lower
end of the market continuing to flourish, in turn creating a
new generation of property owner. Some start off by buying
entry level properties which they then sell after two to three
years and upgrade to a higher price bracket, which bodes
well for this market.
REIM gives an overview of the some of the main
metropolitan areas where residential development activity
is taking place and a look at some the of hot spots and
developments on offer in Johannesburg, Pretoria, Cape
Town, Kwazulu-Natal and Port Elizabeth plus other areas.
This month we start with Johannesburg, Gauteng with
some of the key developments and hot spots making waves
for investors. ‘The Leonardo’ – Legacy (Sandton)
This particular development is getting a lot of attention in
Johannesburg right now in Central Sandton. ‘The Leonardo’
is set to become home to the tallest building in Africa. At
230 metres tall it beats the old Carlton Centre developed
some 40 odd years ago at 223 metres in the Johannesburg
CBD.
‘The Leonardo’ 55-storey skyscraper includes eight
luxury penthouses and multiple apartments. It is part of a
mixed-used being developed by the Legacy Group headed
up by Bart Dorrestein, CEO. Construction began 3 years
ago and is scheduled to be completed by the second quarter
of this year. It is sure to make a huge impact because of its
location close to the business node of Sandton, Sandton
Square, JSE and the convention centre.
In Gauteng areas such as Sandton, Fourways, Sandhurst,
Hyde Park and Houghton are generally high demand areas
in the upper end of the market. Bryanston, Rivonia, Illovo,
Killarney, Rosebank, Midrand and Bedfordview offer a
variety of new property types, well priced properties which
performed well in property sales versus other areas despite
a tough trading environment in 2018. In Johannesburg, the
high cost of living and the need for security will start to
see the trend of downsizing and empty nesting continue,
according to Herschel Jawitz of Jawitz Properties. Sandton Gate – Abland (Sandton)
This will be a mixed use precinct Sandton Gate will be
a comination of retail, residential and commercial. The
residential composes of 370 luxury residential apartments
starting from 2 bed and 2 bathroom between 89 and
159sqm priced from R2,950,000.
JOHANNESBURG AREA OVERVIEW
Sandton area
Sandton is SA’s financial hub also known as “the richest
square mile in Africa” has a number of new developments
in the pipeline. Sandton is split into Central, Sandhurst,
Illovo, Morningside, Sandton CBD, Parkmore amongst
others which all has had incredible growth and has been
looking a building site for the most part of 2016 to 2018. It
is not uncommon to see cranes for miles from Morningside
to Sandton Central. Some major developments are:
Dainfern Square Luxury Apartments interior
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FEBRUARY/MARCH 2019 SA Real Estate Investor Magazine
‘Kgoro Central’ – Regiments (Sandton)
The other lucrative mixed-use development dominating
Sandton is ‘Kgora Central’ which means gateway in South-
Sotho. It is located directly above and adjacent to the
Sandton Gautrain and offers investors a live, work and play
option right in the hub of Sandton. Kgoro West’s is the
rollout of Kgoro’s first phase of 304 residential apartments
expected to be completed end 2020.
The Saxony Sandton – Saxony Developments (Sandton)
Saxony is an extraordinary development that aims to
command the Sandton skyline towering across 29-storeys.
The architecture differentiates from custom box shapes,
and introduces a dynamic, triangular form with the facade
being clad in glass, with brass coloured metallic screens.
The premier address, unrivalled standard of living and
architectural brilliance enhances the high-energy, on-the-
go Sandton way of life.
Morningside area
Morningside saw an uptick in interest and property sales
activity across various price brackets this year compared