Entry level for Dainfern now sits at R3,5m
Dainfern Golf and Residential Estate in Fourways in Johannesburg’s northern suburbs has shown a steady year-on-year increase in property values over the past nine years, with the entry level now sitting at R3,5m and ranging as high as R16m for a luxury home.
Dermot McDermott, area specialist for Lew Geffen Sotheby’s International Realty, says Lightstone data illustrates the node’s growth in demand.
“When the South African property market peaked in 2007, the average sale price in this estate was R2,3m (R3,217/sqm) and despite the credit slump of 2008, increased to just under R2,78m (R3,770/sqm) in 2009.
“By 2014, the average sale price had drifted up to R3,78m (R4,131/sqm), with 2015 seeing a substantial spike of 20,6%, finishing the year on R4,56m (R5,200/sqm).”
McDermott says the most sought-after properties are four bedroom homes with views of the nature reserve or golf course.
“The Dainfern market has stayed on a steady course over the past five years with approximately 10% of Dainfern’s homes on the market for rent or sale at any given time. “Around 35% of the homes on the estate are on the rental market, with corporates making up the majority of clients,” he says.
Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, attributes the estate’s popularity and market strength to several key factors, the most significant being the level of security residents enjoy.
“Dainfern is regarded as the safest of all of Gauteng’s gated villages and is, in fact, the only one to have a top ISO 9,000 security rating,” he says.
(Photograph: A R9m home in Dainfern being marketed by Lew Geffen Sotheby’s International Realty)