Sandton property: luxury living or sound investment? - CNBC Africa

Sandton property: luxury living or sound investment?

Special Report

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An apartment in Sandton can go for 1.95 million rand. PHOTO: Pam Golding

According to Pam Golding Properties’ (PGP) chief executive, Andrew Golding, this is due to the fact that the city is widely seen as South Africa's pulsating financial capital.

“Executives and entrepreneurs from all over the world who work or do business in Sandton want to be within easy reach of the financial heartbeat of Africa, home to the Johannesburg Stock Exchange and an estimated 10,000 businesses and head offices,” he said.

“The Sandton city centre offers some of the most vibrant and convenient city-living in the world. Residential properties, particularly well-positioned apartments, which offer good value for money as well as a trendy, urban lifestyle, are quickly snapped up.”

(READ MORE: Most expensive apartment in Johannesburg at R60 million)

The Sandton Eye for example, a mixed-use development in the Sandton CBD, offers apartments priced from 1.95 million rand for a one-bedroom apartment.

However, Peet Strauss, a development manager at Pam Golding Properties (PGP) Hyde Park, indicated that executive apartments in Sandton are currently being sold off-plan and are proving to be highly sought after for commuters.

“Many of those who have shown an interest in the apartments are professionals who commute. They live in the suburbs or the country, spend their weekdays working in Sandton and then travel home to places such as Hartbeespoort on the weekends,” he explained.

“Others work between Sandton and cities like Cape Town and appreciate the fact that they can jet into Johannesburg, catch the Gautrain and arrive literally at their doorstep. The convenience offered to those who need to commute between cities is simply fantastic.”

(READ MORE: Sandton traffic congestion to increase in 3 years)

Strauss added that some of the apartments are also purchased by corporates for their senior staff members and that a number of foreign companies and business people have shown an interest in them.

“These properties offer the very finest in urban living and represent an excellent opportunity for anyone looking for convenient first-class accommodation within Sandton or simply as a sound investment,” said Golding.  

“They offer a once-in-a-lifetime investment opportunity and those executives who seek a fast-paced urban lifestyle with every amenity at hand would be hard pressed to find a more desirable location.”

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