Emmarentia, Greenside property demand remains buoyant
Category Industry News
Demand for homes in the established suburbs of Emmarentia and Greenside remains buoyant, according to Adrienne Hersch Properties area experts Elana Rahamim and Rose Michaels.
The pair attribute this demand to the solid, well-built homes, connectivity to major transport routes and convenient access to the Rosebank, Johannesburg and Sandton CBD's.
"The large homes in Emmarentia and Greenside are attractive to growing families. These areas also continue to offer good value as well as have high quality housing stock, an abundance of open space and proximity to excellent schools and various amenities," comments Rose.
"Majority of the properties available in these suburbs are freehold homes. We experience substantial demand for older homes that buyers can renovate to their liking" continues Rose.
Elana says 90% of demand for property in Emmarentia is from Muslim buyers wanting to be near places of worship, particularly the well-known Greenside Mosque.
"Many of these buyers are families from Crosby, Mayfair, Mayfair West and Homestead Park. These buyers are seeking four and five-bedroom homes with cottages so that their entire family, including elderly parents, can live together."
The pair say a significant chunk of buyers in both areas are doctors seeking to be close to nearby hospitals including Netcare Rosebank, Park Lane and Milpark Hospitals, Helen Joseph Hospital, Charlotte Maxeke Academic Hospital and Wits Donald Gordon Medical Centre. A number of buyers are also professors and staff members working at Wits University and the University of Johannesburg.
With its tree-lined streets as well as the Emmarentia Dam and the Botanical Gardens, Emmarentia is a green belt in the heart of the city, ideal for outdoor enthusiasts or those city dwellers seeking to be close to nature.
Recent Lightstone figures show that 43% of recent buyers in the area are aged between 18 and 35. The average stand size in Emmarentia is 1450 sqm and can go up to 4000 sqm on the ridge.
Buyers can expect to pay between R2.3 and R4 million for a three-bedroom home. Four-bedroom homes sell for between R3.5 and R4.5 million, while five-bedroom homes are available for R5 million and up. Properties situated on the ridge are situated in a boomed-off area and offer larger stands and stunning views over Johannesburg. Buyers can expect to fork out anywhere from R6 million and up.
Greenside's leafy streets, buzzing strip of restaurants, shops and bars, have made it a highly sought-after area among all types of buyers.
"The buyer demographic in trendy Greenside is far more mixed including families, yuppies and starter couples. These buyers are seeking larger stands than neighbouring suburb of Parkhurst as well as proximity to major transport routes," comments Rose.
According to Lightstone, 52% of recent buyers are aged between 36 and 49, while 37% are aged between 18 and 35.
Stands in Greenside measure approximately just under 1100 sqm. A three-bedroom home can sell for between R2.8 million and R3.5 million, while four-bedroom homes can fetch anywhere from R3 million to R4.5 million.
Elana and Rose maintain with a far more optimistic outlook for the South African residential property sector in 2019, they anticipate demand in both these areas to climb further, particularly among families seeking value, centrality and well-sized homes.
To view available properties in these areas, or to enquire about listing your home, contact Elana Rahamim on Tel: 082 920 7682 or Email: firstname.lastname@example.org or Rose Michaels on Tel: 083 601 8107 or Email: email@example.com
Author: Adrienne Hersch Media Team