Legacy developer brings luxury apartments to Midrand
What do you look for in an area before buying a home? Depending on whether you are buying to live or let, you will probably look at factors like rental yield or potential capital growth. Most experts will also advise you to look at what the future development plans are for the area and whether the market is up-and-coming or an already established and highly sought-after node as this will influence the value you get for your money.
Property buyers and investors are in the unique position right now to have access to one residential market in Gauteng that ticks all these boxes – Midrand.
In 2017, a very tumultuous year in terms of political and economic fluctuations, the Midrand area managed to remain stable, and in fact experienced an increase in the number of new developments. During the last three months of 2017 the average price for a freehold property in the area increased by 18.4% from R1,77m to R2,1m; a strong and significant indicator of the burgeoning estate and sectional title market in the area.
The surge in new developments is not without proven demand however. In 2017, while sales figures in the area remained stable thanks to continuous commercial development driving this demand, rental demand increased as consumer confidence reacted to the economic and political climate.
With things already looking up in 2018 for the country, and likely sales in value areas likely Midrand as a result, there is much to be said for savvy buyers jumping at the opportunity to benefit from the value offered in Midrand compared to the offering of more established northern Joburg suburbs for example.
The Midrand proposition
Midrand’s ideal location and intrinsic value is what property developers, Foce Property Investments, loves about the area. The Umthunzi Valley development, officially launching on March 17th, is Foce’s latest investment in the area where it successfully developed and launched 14 residential and commercial developments over a presence in Midrand spanning 25 years.
“The area offers all the benefits and access to world class amenities of living in one of the adjacent metros without the hefty price tag that typically comes with a more established neighbourhood. In the last six years that I’ve been with Foce we’ve seen a steady uptick of demand in Midrand,” says Franco Cilliers, sales and marketing manager. He adds that this trend is unlikely to slow as more and more businesses move their offices to Midrand’s expanding commercial node, or purely because more buyers are realising the value in living in an area with a distinct country feel while working in the city.
Cilliers says that the one piece of advice he would give aspiring buyers or experienced investors alike deciding whether they should invest in Midrand is to look closely at the property you are buying. “We’ve always been focused on delivering real value. Our offering is based on the fact that we will always offer the same quality for less money or better quality at the same price as our competitors. I’m excited about Umthunzi Valley because I believe that with this development we’ve managed to hit the proverbial sweet spot – offering great value at a very competitive price.”
Umthunzi Valley offers 215 luxury two- or three-bedroom apartments to suit every buyer or investor. All apartments come standard with an Italian design oven with 5-burner gas hobb and are fibre internet ready. The apartments range in price from R1,15m for the two-bedroom, one-bathroom 95.1m² units, offering great value for buy-to-let investors in this luxury unit class at just over R12,000/m²; to R1,63m (Phase 1 already sold out) for three-bedroom, two-bathroom 126.4m² family-friendly garden apartments.
The Umthunzi Valley show units will launch at an exciting event on Saturday, 17th March. HomeTimes is lucky enough to get a first scoop and will do a scheduled Facebook Live On Show prior to launch day. Watch this space!
This feature was sponsored by Foce Property Investments