"Montana is a relatively new area which has a good infrastructure and caters for a broad cross-section of people, with prices of homes ranging from approximately R600 000 to R10 million. In terms of size these vary from an entry level house comprising two bedrooms to a mansion with seven or more bedrooms. An average three bedroom home in the Montana area sells for around R1.5 million. Key attractions in the area are good access to main highways, good schools, shopping centres such as the famous 'Kolonade Centre' and hospitals. Montana has a tropical and pleasant climate with green lawns all year long.
Access to the CBD of Pretoria is easy," says Coetzee, who adds that values of homes have increased by 12-15 percent per annum over the past few years. Suburbs in high demand include Montana Park and Waverly and Vilieria in the Pretoria Moot area.
The adjacent area of Pretoria Moot, an older, very well established area, is also active. "With government moving its Foreign Affairs department to the Pretoria Moot, we anticipate an influx of some 2 000 employees or potentially active home buyers. Being an established area, the Moot has limited land space available for development and as a result, this should provide an added boost for nearby Montana," he says.
Due to the shortage of vacant land in the Moot, the new trend is to purchase two houses on spacious, adjacent erven and demolish them to make way for eight or nine new homes. Coetzee says currently the average price of a home in the Moot area is approximately R900 000.
"There's still good value for money here and opportunities for sound growth. Having come off a very low base, homes here have experienced capital growth of as much as 25-30 percent in recent years." He says sectional title homes are very popular in the Moot area and tend to sell within two to four weeks.
As the Pretoria Academic Hospital and various educational institutions such as the University Of Pretoria within 10 minutes of the Moot are, there's also a high demand among buyers for flats for student accommodation.