Property investors are set to return to Gauteng, predicts Peet Strauss of Pam Golding Properties. Although the trend over the past year or two has been for Johannesburg residents to move to coastal regions, estate agents in South Africa’s biggest city in which to do business believe this will soon change.
Strauss reckons many Johannesburg property owners are now ready to upgrade to more upmarket homes. As they buy up, market conditions should improve for sellers higher up in the property chain where sales have been muted.
Meanwhile, interest in the Gauteng property market has ticked up among business players from elsewhere on the continent who are looking for iconic properties close to the commercial action, a developer tells BizNews. Billionaires from Africa and other countries doing business with South Africa are particularly interested in unique ‘superhomes’ that are fully decorated and ready to be occupied.