Benoni Property Market on the March

Category SA Property Market

The property market in Benoni on the East Rand has taken off and homes offered at market-related prices are now selling literally within days of listing says local Chas Everitt Benoni franchisee, Andre van der Merwe.
“Comfortable family homes in established suburbs such as Farrarmere and Northmead are in particularly high demand among buyers who are upgrading from townhouses, and we have recently sold several homes in these areas within a week of listing them for sale.”
He says upgraders are typically in their mid-30’s to early 40s and are buying large Benoni homes to accommodate their growing families - and that these two suburbs fit the bill perfectly because they offer sturdy, spacious homes on extra-large stands of 1000 square metres to 1400 square metres. “Many also offer modernised bathrooms and kitchens, and the price is right at between R950 000 and R1,6 million.”
Meanwhile the Ebotse Golf Estate, the “crown jewel” of the Benoni property market, is also doing exceptionally well after a relatively quiet 2013, Van der Merwe says. “The estate is about 80% completed and with a diminishing number of stands available, prices have almost doubled since last year, from around R850 000 to R1,3 million.”
Home prices in the Ebotse Golf Estate start at around R3,4 million for a home with a 300 square metre footprint, while large luxury homes are on the market at prices up to R23 million, and cash buyers have made a strong showing in Ebotse this year, he notes. "Such buyers are usually businessmen running large companies and because no bonds are involved, these transactions are concluded swiftly."

Author: Barry Davies

Submitted 15 May 14 / Views 415