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Jhb varsity suburbs performing well
Bester says prices in nearby Auckland Park range between R1,1m and R3m with stand sizes varying between 600sq m and 2000sq m. "R3m will buy a solid family home on a large stand representing excellent value for money."
However, the best investment opportunities are to be found in Triomf/ Sophiatown next to Westdene. "Three-bedroom family homes in reasonable condition can still be bought for prices as little as R600k. Homes in this area are solid and were built in the 70s and 80s. They represent excellent potential for growth in value."
Investors buying student accommodation are also underpinning the market. Monthly rentals vary between R1,300 and R2,800 per room, depending on the location.
Bester says Brixton properties are increasingly being turned into student communes. "Many of these older properties offer great scope for upgrading and the suburb is definitely a candidate for gentrification. Small three-bedroom homes on stands of 500sq m here sell from about R500k." |
Posted on Friday, September 28, 2007 (Archive on Wednesday, October 31, 2007)
Posted by hayleym Contributed by hayleym
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