The Pretoria East suburb of Equestria has for the past few years witnessed massive new development, due to being purposefully planned as a higher-density area with the capacity for 10 000 modern apartments and townhouses.
According to property data company Lightstone, 494 property transfers occurred in the suburb in the past 12 months, 44% of which were to buyers younger than 35.
“Equestria is brilliantly located just off the N4 freeway between Pretoria and Witbank, and within really easy reach of the N1 to Centurion, Midrand and Johannesburg, as well as the Gautrain station in Hatfield, for those who prefer to commute by train,” said Anne Rich, the Rawson Property Group’s franchisee for Equestria. “Properties for sale in this area start from R750,000 for apartments with two bedrooms and one bathroom. Three-bedroom apartments and townhouses are available at prices from about R1,3m upwards, while sectional title units with two bedrooms, two bathrooms and a garage start from around R1,065m.
“The monthly bond repayments for young buyers in Equestria start from around about R9,500, so even with property rates and levies adding anything between R900 to R1,300 for a full title, R1,300 to R2,500 for a sectional title, a month, accommodation costs well under R12,500 a month.”
According to Lightstone, the current average sale price for sectional title properties in Equestria is R1,065m, and for freehold properties in security estates is R1,445m.
Photo: A view over Pretoria’s CBD with the Union Buildings in the background.