Is Protea Glen one of the country’s most traded property markets?
Protea Glen has more sales than almost any other suburb in the country. This is according to Nhlanganiso Sibanda, owner and operator of the Rawson Properties Protea Glen franchise, who said the reason for this is the neighbourhood’s convenient location, great amenities and remarkably affordable houses – a combination that has seen demand continuing to grow, despite the market downturn.
“It really is the perfect suburb for buyers looking for a good alternative to municipal housing,” said Sibanda. “It has everything you could need as a neighbourhood, but it’s still affordable enough for regular people and first-time buyers.
“A freestanding home can cost anywhere from R480,000 to R1,6m; townhouses go for R500,000 to R650,000 on average, and apartments – though very rarely traded – are in the region between R200,000 and R500,000.”
Sibanda does warn buyers that these prices may well be on the rise, as demand continues to outstrip supply by a fair margin.
“We’re seeing a lot more buyers than sellers at the moment, and the high demand is pushing prices upwards, although inflation has also been a factor,” he said. “We have a lot of cash buyers looking for properties in the under-R550,000 bracket, so if you are thinking of selling your home in Protea Glen, please do get in touch.”
Top photo: Orange View, a new development in Protea Glen, is for sale from R295,000