A first-time homeowner can purchase an entry-level residence or investment in a suburb where many have resided for more than 11 years, from newly-built apartments to high-end mansions.
Pretorius Park houses a wide variety of age groups enjoying the benefits of good infrastructure in an area that is replete with essential amenities. “The area is an amalgamation of different age groups that reside peacefully side by side.
Fifty percent of the homeowners have lived in the area for 11 years or more. “They enjoy convenient access to a selection of schools, shopping malls and medical care facilities,” says Dominique Lochoff of Seeff Pretoria East.
“From an investment point of view it is a good proposition as it has great amenities within a 10km radius. One can purchase an entry-level home as a first-time homeowner or as an investment, as well as high-end properties within the surrounding security estates.”
The price range for full title homes is between R2.8million and R5m, and one can expect to pay anything from R775000 to R1.5m for a sectional title property, she says. In the more sought-after and exclusive estates, such as Mooikloof Ridge, Mooikloof Gardens Estate, The Wilds Estate and Woodhill Golf Estate, residential homes can top R15m, says Lochoff.
One thus gets a market stock that ranges from entry-level, newly-built apartments consisting of two bedrooms to exclusive mansions with top-end quality finishes and units in upmarket retirement villages for the elderly.
Pretorius Park is also a healthy rentals area which makes investing in property a prudent move. Lockhoff says Garsfontein Road needs to be upgraded in the near future to bring it up to speed with the unfolding growth in the area.
Depending on the price bracket, sale periods usually range from three to six months. Most homeowners put their properties up for sale “when scaling down to move to smaller homes or scaling up to bigger homes” to accommodate their growing needs or families.
“Others put their homes on the market to move to places such as Cape Town or abroad.”
According to statistics from Lightstone, more buyers aged between 18 and 35 years (45%) have come into the area in the past year to June, with only 10% of that group leaving.
This contrasts with the 45% share of mature buyers (36-49 years old) who were also significant sellers (40%) over the same period. It follows that most of the younger buyers could be seeking a convenient address for their primary school-going or toddler offspring as this part of Pretoria East is renowned for its great selection of formative learning institutions.
There’s Woodhill College, Maragon in Mooikloof and Moreleta Montessori, to name a few. “My tip to prospective home buyers would be to buy in the correct location, according to your needs and budget,” says Lochoff.
“It is a good time to invest. Property in the correct area remains the most secure investment you can ever make.” Faerie Glen is a bit pricier, but Constantia Park is slightly more affordable.
Yvette de Ponte’s places of interest and things to do
This is a nice and relaxed place to shop for beautiful flowers. You can hear the donkey braying and there are other animals you can feed. Atterbury Road and Olympus Drive, Olympus. 012 991 3061
Stylish coffee shop-cum-restaurant tucked away behind Plantland. Corner Atterbury Road and Olympus Drive, Faerie Glen. 012 991 5728
3 Blos Café
It has a farmhouse setting and charming ambience. They serve quality breakfasts, gourmet sandwiches and light lunches. 66 Olympus Drive and Leander Road, Faerie Glen. 082 466 2857
4 Olympus Village
It’s a small and convenient shopping centre that has a huge supermarket. A great shopping experience. Olympus Drive, Olympus AH. 012 348 1373
5 The Glen Village
There are many services, from doctors and restaurants to an assortment of shops. Solomon Mahlangu and Olympus drives, Faerie Glen.
6 Grayz Coffee Shop and Eatery
Great coffee shop, 107 Haymeadow Street, Faerie Glen. 012 991 0759