The most buoyant residential property market in Fourways, Johannesburg, is the mid-level price band of R2m to R2,5m, with growing demand now resulting in stock shortages. This was according to James Christelis, northern suburbs director and area specialist for Lew Geffen Sotheby’s International Realty.
“The sectional title market in Fourways has also grown considerably and, with prices ranging between an affordable R700,000 and around R2,5m, the suburb has become very popular with first-time buyers looking to get their foot in the northern suburbs market and live in close proximity to good schools,” he said. “With security now foremost on people’s minds, secure cluster developments and gated estates have also mushroomed in the area and are generally well-priced, ranging between R1,3m and R4m, depending on location, unit size and the facilities offered.”
One feature of the area’s property landscape is the generous size of plots, with the original freestanding homes in Fourways being built on stands of up to 1,500m².
“The zoning laws in Fourways prohibit subdivision in most pre-existing residential areas and, with houses priced between R1,8m and R4m depending on condition, size and location, investors get a lot more house for their money than in neighbouring suburbs like Rivonia and Bryanston where freestanding homes start at around R4m,” says Christelis.
Photo: This four-bedroom house in Fourways, Johannesburg, has great indoor/outdoor flow to a covered patio, pool and manicured lawn. Set on a generous 1,500m² stand it also has staff accommodation and is on the market for R2,899m.