Moreleta Park attracts young buyers
11 June 2006
The proliferation of sectional title homes in Moreleta Park in Pretoria's "new east" has made the suburb a winner among young buyers.
Sectional title units now comprise around 58 percent of the local property market, says Chas Everitt International area specialist Gary Musk, "and prices for stack units without gardens start at about R470 000, enabling young buyers to get a foothold in the property market".
Other attractions for such buyers are the area's central location, relatively easy access to the N1 and R21 highways, and the abundance of local shopping facilities.
"Stack units at this lower price level typically offer two bedrooms, a bathroom and either a garage or covered carport," Musk says. Prices of bigger duet-homes vary between R800 000 and R1,2-million, while most freehold homes cost between R1-million and R2,2-million.
Freehold homes usually have three bedrooms, two bathrooms and two living areas, on stands of up to 1600sqm.
Musk says there are still limited opportunities to subdivide larger stands and build second dwellings but that with around 12 200 existing residential properties, the suburb is almost fully developed.
Meanwhile, Moreleta Park does offer great opportunities for some "retail therapy" with at least nine comprehensive shopping complexes in the vicinity, and a new complex in Wekker Street under construction.
And proximity to some of the city's most prestigious schools such as Waterkloof High, Woodhill College and the Pretoria Chinese School, also makes the suburb popular among families with children of schoolgoing age, Musk says.
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com