Boksburg at a glance
Boksburg is thriving and bustling town located in the East Rand of SA’s Gauteng Province. The suburb is flanked by Benoni and Brakpan to the East, Kempton Park to the North, and Germiston and Alberton to the West.
The suburb is also located just 25 kilometres East of Johannesburg’s CBD, putting nearly every conceivable amenity within close range of Boksburg property owners.
What are the major attractions in Boksburg and what makes the town unique?
When looking at what makes Boksburg unique, you really need to focus on the East Rand as a whole. The entire area can be considered the mining and manufacturing hub of the Gauteng region. Boksburg is widely regarded as one of the most significant gold producing areas in all of South Africa.
On top of this, the area plays host to a number of production and manufacturing facilities including factories owned by Colgate-Palmolive and Unilever.
One of the suburb’s biggest attractions, which draw visitors from all over Gauteng, is the East Rand Mall. Boksburg property owners and visitors are spoilt for choice as this shopping complex plays host to over 175 shopping outlets ranging from large chain stores to smaller independent and boutique outlets.
The area is also home to the iconic Boksburg Lake, which is surrounded by pristine gardens and lush lawns ideal for picnicking and outdoor leisure.
What is the Boksburg property markets stock composition?
Boksburg offers a broad spread of different property types suited to unique preferences and budgets. Freehold properties dominate around 69% of the property stock, while sectional-titles and estates make up the remaining 19% and 12% respectively – as per recent Lighthouse property reports.
The wide range of available properties affords prospective residents a wealth of choice when looking to purchase. Boksburg property prices have remained stable over the last few years, and have started to increase of late.
What do Boksburg properties sell for?
Recent Lightstone reports indicate 2533 Boksburg property sales over the previous 12 months: 459 estate, 1314 freestanding full-title and 760 sectional title sales transactions.
Regarding property prices 759 unit sales were under R400 000, 967 between R400 000 and R800 000, 644 between R800 000 and R1, 500 000, 148 between R1, 500 000 and R3, 000 000, and 15 above R3, 000 000.
In terms of growth and activity trends the market appears sound and stable with current full-title and sectional-title Boksburg properties being R555 000 and R820 000 respectively.
With regards to nearest town municipal rankings according to Lighthouse – Boksburg freehold prices are currently in excess of R890 000, which is higher than those of neighbouring Brakpan and Germiston.
Nationally this average is on par with the likes of KZN’s Camperdown.
Regarding sectional scheme Boksburg property prices here, the average is over R600 000 which is on par with Pinetown in KZN and Wellington in Western Cape.
Sales analysis trends also indicate that freehold real estate prices exhibited considerable increases over the last year, which again bodes well for investors and Boksburg property seekers keen on freestanding homes.