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Letter from the editor BRYANSTON
AMANZAMTOTI
ONVERWACHT
POTCHEFSTROOM
KURUMAN
WEST ACRES
GAUTENG Bryanston: R3.164m Midstream Estate: R3.022m Moreleta Park: R1.563m MORELETA Park and Bryanston have mostly sectional title properties, while those in Midstream Estate are estate properties. One the top left is an example from the IOL Property portal of a two-bedroom, two-bathroom apartment in Bryanston for R1.199m. K WA Z U L U - N ATA L Amanzimtoti: R1.282m Margate: R853 000 Waterfall: R1.720m THE MAJORITY of homes in all three areas are sectional title. Top right is an example from the IOL Property portal of a three-bedroom, two-bathroom apartment in Amanzimtoti for R1.185m. LIMPOPO Bendor Park: R1.417m Onverwacht: R739 000 Aqua Park: R1.077m ONVERWACHT has more sectional title homes, Bendor Park has estate properties, and Aqua Park is home to more freehold homes. Left middle is an example from the IOL Property portal of a four-bedroom, two-bathroom house in Onverwacht for R1.3m. MPUMALANGA West Acres: R1.251m Marloth Park: R1.062m Terra Nova Estate: R717 000 MOST PROPERTIES in Marloth Park and West Acres are sectional title, while Terra Nova Lifestyle
Estate offers estate homes. One the right is an example from the IOL Property portal of a three-bedroom, 1.5-bathroom apartment in West Acres for R960 000. N O RT H W E S T Die Bult: R842 000 Potchefstroom Central: R968 000 Waterval East: R882 000 IN POTCHEFSTROOM Central, most homes are freehold. Sectional title homes are mostly on offer in Die Bult and Waterval East. Above right is an example from the IOL Property portal of a two-bedroom, one-bathroom house in Potchefstroom Central for R870 000. N O RT H E R N C A P E Kathu: R1.021m Kuruman: R1.31m New Park: R1.228m FREEHOLD homes make up the majority of properties in all three areas. On the left bottom is an example from the IOL Property portal of a three-bedroom, two-bathroom house in Kuruman for R1.588m. WESTERN CAPE Parklands: R1.474m Table View: R1.894m Cape Town Central: R2.252m MOST HOMES in Parklands are freehold while the majority of properties in Table View and Cape Town Central are sectional title. Above right is an example from the IOL Property portal of a one-bedroom, one-bathroom apartment in Table View for R1.1m.
TABLE VIEW
The snootiest areas in the country
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VERY province has at least one suburb that is known for its affluence and exclusivity, with homes so luxurious only the really wealthy can enjoy them. And it is all relative to where you live now. The most expensive suburb in your province may be an average area in another, or vice versa. But if you decide to move to another province, there might be nothing stopping you from snapping up a beautiful home you could otherwise not afford. With remote working set to be the way of the future, let South Africa be your oyster. Lightstone data has revealed the most expensive areas in each of the country’s provinces, with their average property values. And here they are: EASTERN CAPE St Francis Bay Canals:
R4.734mw FREE STATE Willow Creek Estate: R3.559m GAUTENG Blair Atholl Golf Estate: R15.606m KWAZULU-NATAL Hawaan Forest Estate: R7.747m LIMPOPO Golf Park: R6.224m MPUMALANGA Mjejane Game Reserve: R5.515m NORTH WEST PROVINCE K’shane Lake Lodge and Eco-Estate: R4.842m NORTHERN CAPE Kalahari Golf and Hunting Estate: R2.783m WESTERN CAPE Bishopscourt: R18.673m * Note: Average property prices in some of the estates above are lower than the actual home prices as the average calculation includes the cost of vacant plots which are cheaper.
THE WORLD is changing. The world’s richest person, Elon Musk, whose offer this week of $44 billion (R690bn) to buy out Twitter was accepted, doesn’t own a home. In fact, he says he sleeps at friends’ homes. The last of his mansions was sold late last year, turning the new sole owner of Twitter into a tenant and, it seems, at times, a couch surfer. His last property, a $37.5m (about R562m) mansion in San Francisco, eventually sold for $32m, $5.5m less than he initially wanted. He sold all seven of his homes over a two-year period after telling the world he no longer wanted any physical possessions, but rather aimed to focus on sending humans to Mars. It is, of course, one thing to be a house-less billionaire and quite another to be a house-less person living on the streets. So, while there is a slowly growing trend not to put one’s money into bricks and mortar (a number of millionaires are selling off their global property assets to have only one main mansion), there is also a growing number of first-time home buyers who are celebrating the fact that they are putting their monthly earnings into an asset that could bear fruit for them down the line, and one that gives them the protection of a roof over their heads. For many, owning their home provides a sense of stability and protection. They also know, all things being equal, that after 20 years they will have an asset, unlike a tenant who walks away with nothing. Bricks and mortar are also the entrepreneur’s dream with many making money from flipping properties, or becoming landlords, or even not owning a home but earning their money from managing Airbnb homes. The fact is, property is an asset, unless of course you are dreaming of colonising Mars, which is a whole other ballgame. What are your thoughts? Warm regards
Vivian Warby vivian.warby@inl.co.za FIND US HERE: @iolproperty @iolproperty
@iolproperty.co.za
