Pretoria is part of the suburbs of Gauteng in South Africa, and according to the property business Seeff, is one of the “prime property investment areas”. There are both practical and abstract reasons for this.
Bedford View, the upper suburb in East Joburg, also provides vast opportunity to purchase areas of land to put up to eight units on (David Ingle, Seeff MD for Bedford View). Prices typically vary from R500,000 (approx. £289,000) to R30 million (approx. £1.7 million). However, it provides a good opportunity to retrieve that money and more because the property and business development opportunities make it a shrewd investment, even more so because Bedford View has an active rental market. A lot of home owners are aware of this and are therefore investing more in properties than the asking price because they know how high a value investment in this area has. Bedford View is in very high demand due to its proximity to some of the best private schools and to top quality restaurants. It also provides a lot of job opportunities and has the novelty factor of being “Africa’s first green city”. Everything that you could need in terms of jobs, schools, nightlife and things to do in the day and schools is only a short distance away.
The fastest selling properties are in Eco Park in Centurion. According to Steve Van Wyk, MD for the Centurion area, one R1.1million property sold only one day after being listed! Its popularity is due to its affordability, centrality to all schools, shopping malls and highways, “and excellent returns of between 9% and 10% on resales and rentals”, thus making it an area for profitable trading.
Another reason why properties are so popular all over Pretoria is because of the excellent security that comes with the properties for only a slight additional cost. Pretoria North is the best place for those wanting to invest in properties for renting them out, as there is a high demand for properties here in the price range of R5,000-R6,000 per month. Ensure that you invest in properties that are in excellent repair and need minimal maintenance, and get a reputable rental company to do thorough security checks on prospective tenants, and you will be sure to make an excellent profit.
Now is a good time to invest in property in Pretoria, because according to The Property Wheel, the number of properties for sale has increased by 50%, while the number of buyers has decreased by 40%.