The property market is stable and steady in an area in which the establishment of Oriental City has created a popular retail spot, and revamps reflect a positive indicator for investors
Investors are showing interest in Bruma, and this should have a positive effect on property prices in the near future and makes it tenable to invest in property in the neighbourhood.
Kyle and Maxine Campbell, of Campbell Real Estate, make this assertion to demonstrate the inherent benefits of purchasing a home in the area. They cite the establishment of Oriental City, which has created a retail spot that is popular at the site of the old Bruma flea market, as one instance of the faith investors have in Bruma’s potential and future prospects.
“The recent revamp of Bruma is also a positive indicator for investors as it creates a stronger appeal for buyers. It also appeals to individuals working close by as well as people who need easy access to highways and the airport,” says Kyle.
Maxine says: “The property market in Bruma is stable and steady. There is no significant increase or decrease in property prices other than normal market price fluctuations.”
This alone should be a good reason to buy a home here because in most places properties have shed their values, in some cases substantially. In addition, any prospective homeowner in the area will be aided by the fact that a buyer’s market has given the homebuyer greater bargaining power and lots of choice.
The same applies to top-end properties, of which more have come on to the market, with high net-worth individuals selling up to immigrate or to scale down in response to tougher economic conditions, according to Kyle and Maxine, who report that a luxury property here would top out at around R3.7 million. Even against that backdrop, Kyle and Maxine contend Bruma is an exception.
“In general, the amount of sales activity and registrations are slightly lower than in previous years. However it is still a reasonably steady housing market without strong fluctuations in sales activity,” they say.
“As the great investor John Templeton said: ‘Bull markets are born on pessimism, grow on scepticism, mature on optimism and die on euphoria’. “I would encourage buyers to strongly consider this advice as the general outlook is currently quite pessimistic,” says Kyle.
Bruma’s centrality also makes it an ideal investment destination, says Maxine. Furthermore, Bruma can be recommended for its older, well-sized, well-built homes that have more of a classic feel, says Kyle.
“The houses generally have a larger floor size and garden space, allowing buyers to get more value for their money. Buyers can invest more in their homes by modernising and renovating to design the more updated homes they want.”
Maxine says there’s a selection of apartment and townhouse complexes in and around Bruma that enable entry-level and first-time home buyers to break into the property market. The couple say Morninghill is more upmarket, but south Kensington is slightly more affordable than Bruma.
Martin Kleinbooi’s Favourite places and things to do
1 Maboneng Precinct
This great neighbourhood is five minutes’ drive from Bruma. It has great entertainment, including clubs and pubs, and is an awesome place for young people to meet friends and socialise. 276 Fox Street, Johannesburg. 086 133 3444
2 New Bruma Oriental City
This is a vibey hub in the neighbourhood consisting of more than 300 stores dealing in anything from apparel to cellphones, gifts, you name it. 49 Ernest Oppenheimer Avenue, Bruma.
3 Eastgate Shopping Centre
This is one of the largest malls in Joburg. They have all kinds of great entertainment, like IMAX cinemas, restaurants, games, and much more. It is a great place to make memories. 43 Bradford Road, Bedfordview. 011 479 6000
4 Bruma City Liquor Store
This is a small-sized liquor store. They provide the best service and have the best prices. They regularly also run great specials. 36 Ernest Oppenheimer Avenue, Bruma. 087 806 9140
5 Fisherman’s Plate
One of the best restaurants in Chinatown. 18 Derrick Avenue, Bruma. 011 622 0480 6 Fong Mei Casual, groups. 18D Derrick Avenue, Cyrildene. 011 615 1384