Sturdy homes, many built in the 1970s on big stands and close to arterial routes and nature reserves, make the upmarket suburb of Erasmusrand popular with high-end professionals.
Erasmusrand is one of the more upmarket suburbs of Tshwane, and you definitely get bang for your bucks in this Pretoria East neighbourhood.
What you get is sturdy homes on huge stands of about 2 000m², the majority of which were built in the 1970s. Residents enjoy easy access to arterial routes to OR Tambo International Airport, the Joburg area, top schools and popular nature reserves in a good neighbourhood where your investment can only appreciate.
Analysts say the area lies in a zone which has seen consistent property appreciation, with three-bedroom homes going for at least R2.2 million and rentals averaging at R16 500 a month as of last year.
“Property prices vary from around R1.8m to R4m, and the average price is R2.3m,” says Frik le Roux of Seeff Pretoria East, who recommends the properties for their durability, saying some have been upgraded, while others boast spacious rooms. The highly esteemed suburbs of Waterkloof Ridge and Waterkloof Boulevard are part of the neighbourhood network.
Le Roux says most residents and homeowners are middle to higher income professionals, an assertion supported by average household income data from Lightstone that shows income levels at between R70 000 and R90 000 a month. A notable exception is a limited number of sectional title properties, which account for less than 15% of neighbourhood property portfolios.
Gerhard van der Linde, managing director Seeff Pretoria East, says Pretoria East has connected to the pulse in terms of where high net-worth buyers are most likely to purchase property. He says Pretoria East shifted 7 500 properties last year, totalling R8 billion in turnover, thus knocking Sandton (R6.4bn) off its perch.
PG van der Linde, rentals manager for Seeff Pretoria East, says the rising status among wealthy buyers and tenants means the area now attracts top-end rental rates, comparable to Sandton.
The areas listed as a magnet for well-heeled investors and where they were most likely to pay even higher prices of up to R20m for luxury homes include Waterkloof and Waterkloof Ridge, which borders Erasmusrand. This can only mean investing in Erasmusrand is a guaranteed good bet for the foreseeable future.
“Commercial and retail developments such as the Menlyn Mega Mall and Menlyn Maine have brought new luxury to the area, giving residents access to top class facilities,” notes Van der Linde.
Le Roux ticks off essential amenities and important centres close by, with shorter travel times from Erasmusrand: Menlyn shopping district (5 mins), Sandton (35 mins), Hoërskool Waterkloof (5 mins), Pretoria Central (15 mins) and Waterkloof Primary School (15 mins). Castle Walk Centre in Erasmuskloof is within a 2km radius, as are Airforce Base Waterkloof (3km) and three highly regarded schools, Hoërskool Waterkloof, Pretoria Chinese School and Laerskool Elarduspark.
One is also well-placed to get away to a local nature reserve, with both Moreleta Nature Reserve and Rietvlei Nature Reserve close by.
Says Le Roux: “Erasmusrand is well sought-after, but it is difficult to get a property here.” There are just over 800 adults in this suburb, hemmed in by the N1 north to east and penetrated by the M9 (Rigel Avenue south) in its northerly section.
“Once you are an owner, you’re likely to stay for life,” says Le Roux.