Why You Should Invest in a Property in Sandton
Sandton is now regarded as Africa’s business hub and rumour has it that there is more money per city block in Sandton than in any other African city. The popularity of Sandton has caused property prices to rise considerably, but there are still good investment properties around for under one million Rand.
What makes Sandton so sought after and such a good investment?
Sandton is set to become the country’s financial, tourism and retail hub, with much of Johannesburg’s business tourism being centred here.. To cater for this, the municipality boasts a string of five-star hotels. The vision for Sandton City is for it to become South Africa’s own Wall Street.
Many large companies have already moved their corporate offices to Sandton from the central business district of Johannesburg and much of the city’s top grade office space is located there. It is also a Mecca for tourism and retail, with the southern hemisphere’s largest shopping centre, Sandton City, attracting thousands of tourists to its 144,000 sq m of shopping space.
|Add to this the many top class restaurants and the Sandton Convention Centre – one of the largest on the African continent – and you will begin to get the picture of why Sandton is so attractive as a business, tourist and residential area.|
The opening of the new Sandton Gautrain railway station in June this year, with its direct connection to OR Tambo International airport, has added even further to the attractiveness of Sandton. The OR Tambo International airport is the primary airport for both domestic and more importantly, international air traffic to and from South Africa. Recognised as Africa’s busiest airport, it caters for 28 million passengers each year.
Despite the buzz that surrounds Sandton, it can be difficult to find affordable investment properties. Unless you have a few million Rand to spare to invest in an up market cluster of houses, you will be better off looking at some of the sectional title developments in Sandton.
Older buildings offer perhaps the best investment potential if you are prepared to spend that little extra on kitchen and/or bathroom renovations.. The older buildings tend to have larger bedrooms and living space and if you choose wisely you can be sure of excellent returns on your investment for many years to come.