As the Randburg CBD sets its sights on full regeneration over the next few years, the business district and its surrounding suburbs are experiencing an upward movement in prices and increased interest from investors. Properties for sale in Randburg range significantly in size, price, and location making this suburb a must-see area for property investors who are looking for value in the greater Johanensburg area.
Randburg back and better than ever
Those familiar with the Johannesburg property market may remember the unfortunate state of the Randburg CBD in the late 1990s and early 2000s. However, since 2005 the area has seen a reversal of fortunes thanks to a concerted regeneration effort.
While this initiative took several years to get off the ground, it has now gained traction and a number of property companies have invested substantial sums to renovate large office buildings and shopping areas in the Randburg CBD. This sign of investor confidence is a good omen for the future of downtown Randburg and the surrounding suburbs will be the first to feel its benefits.
The last affordable area in Johannesburg North
As Johannesburg continues to expand around its established business centres of Sandton, Midrand, Rosebank and more recently the historical CBD, demand for residential property close to the citys various CBDs has been surging.
While suburbs surrounding these business hubs tend to be priced in the premium range, Randburg has the unique advantage of being close enough for an easy commute and reasonably priced this presents an excellent opportunity for first-time home buyers as well as property investors.
Randburg is positioned at the apex of Johannesburg North, Sandton with spacious homes and apartments that are priced significantly lower than the average price in Sandton, for example. This unusual situation came about in previous decades when the urban decay in central Randburg caused a slump in prices, but with this situation being reversed and a shortage of new housing stock in Johannesburg, prices in Randburg are likely to rise significantly.
Price aside other benefits of living in Randburg
The prospect of good returns on a property investment make Randburg look very good on paper but is the area pleasant to live in? These days, the answer is a definite yes. Here are various reasons why:
Proximity to all major business and lifestyle hubs in Johannesburg
Less traffic congestion than Sandton and Midrand
A variety of small shopping centres offering convenient retail options
Spacious homes and apartments at very competitive prices offering space and privacy
A selection of good schools in the surrounding area
Investing for the future
With financing for property developments remaining tight in South Africa, the shortage of housing stock in Johannesburg is likely to continue for many years making high prices the norm. This makes Randburg the ideal area for property buyers who are seeking value and long-term gains.
As South Africas premier real estate company, Jawitz Properties is ready to advise investors on making a strategic investment in property for sale in Randburg. Passion, professionalism and personalised service are the foundation of the Jawitz Promise contact us today to experience it for yourself.
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