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Well-priced relatively affordable properties in Greenstone Hill have a ready market at the moment, making this the right time for buyers to invest in property in the area, amid predictions of an improved economic outlook in the coming months.
Brendon Winkler, manager for Kingstons Real Estate Greenstone, says properties in security complexes or estates and priced between R1 million and R2m, have experienced the strongest demand lately. If priced correctly, these homes usually receive offers within three to six weeks of listing.
“We expect values in property to begin increasing steadily, making this the perfect moment to enter the property market in Greenstone Hill,” says Winkler.
Entry-level apartments consisting of a single bedroom and bathroom usually start at around R600 000. He feels the current buyer’s market enables purchasers to secure property at “phenomenal” prices: “This presents some attractive yields coming out of the rental space.
Capital appreciation over the past five years has been steady, despite the fact the economy has been under major pressure.” Winkler says demand for luxury homes is also steadily rising, in a trend that is anticipated to become more entrenched in the coming months, given forecasts of political certainty following the elections.
“The number of sales over R3m in Greenstone is slightly lower, year on year. We expect these numbers to increase as the year progresses. Top-end properties have steadily increased by 5% since 2018.”
Winkler says the highest registered sale achieved in Greenstone recently was for R5.15m. Luxury properties in security estates and gated communities are increasingly popular and can achieve prices of between R3m and R8m.
“There’s a high demand for luxury properties in security estates such as Thorn Valley and Bush Willow Park. Sales have been strong in new developments.” Winkler says Greenstone Hill offers all the property types one could think of, from freehold homes and estates to apartments, townhouses and duplexes.
“It caters for laarge established families, young families, first-time buyers and investors.” This means families and young professionals looking to take advantage of great value properties will find Greenstone Hill an attractive option.
Winkler adds: “It’s central to major transport infrastructure, the airport, Sandton, Midrand and the Joburg CBD. There are fantastic shopping centres and restaurants in the area and the beautiful tree-lined streets and family-friendly amenities make it all the more appealing.”
For prospective buyers here, developments with no transfer costs could seem more attractive but might not necessarily be better than established developments with a proven track record, advises Winkler. Property values here equal those for nearby Thornhill.
Michelle Ashburner’s favourite places
I have lived in the Greenstone area for most of my adult life. It’s central to everything and we’re midway to many centres including Sandton. It’s also vibey as it has great shopping
centres, business centres and services. We’ve got it all. I’m the managing founder of Womantrepreneur, an organisation dedicated to uplifting businesswomen in the area and
equipping them with skills. - Michelle Ashburner, resident
Picture: Supplied
1 Dros Greenstone
Their food is always great, especially their breakfast and steaks. Eden Meadows Centre, Shop 41, Erf 1050 & 1051, Modderfontein Road, Edenvale. 011 609 9286
2 Red Door Café
Its design and decor are unusual. It’s mainly bistro fare and they have exciting stuff running all the time. It’s also a great place to hold meetings. 26 5th Ave, Edenvale. 011 453 1926
Red Door Cafe has unique decor. Picture: Supplied
3 De Bakery
This is family-owned and one of the oldest businesses in the area. Their confections are superb and I’ve never tasted anything like the things they bake anywhere in the world. 47 Van Riebeeck Avenue, Edenvale. 011 453 2233
4 Green Valley Shopping Centre
It’s a small, cosy and intimate centre. It also hosts Café Plus, who serve the best carrot cake in the area. Stoneridge Drive, Greenstone. 087 150 3303. Café Plus. Outdoor seating. 011 452 2588
5 The Landing
Barista coffees and fresh food. 15 Linksfield Road, Edenvale. 011 453 1936 6 Mugg & Bean Gourmet burgers, sandwiches. Greenstone Shopping Centre, Greenstone Hill. 011 452 3138