Investing in Riverfields
Did you know that the most expensive apartment in Johannesburg, located in Sandton, is valued at R60-million? While most of us can’t even think about ever having (let alone spending) this amount of money, there are many good value-for-money areas to invest in.
Take, for instance, upmarket residential property in Riverfields, an unmatched property investment area located north-east of the Kempton Park CBD between OR Tambo International Airport and Tshwane.
Riverfields, with its contemporary design, architecture and secure lifestyle offering is a hub for residential, commercial and retail developments. It is less than a 30-minute drive from all CBDs within the region, and less than 15 minutes from OR Tambo International Airport. It offers discerning investors locational advantage and access to all urban amenities.
Quantity surveyor Pieter Zerwick of PW Zerwick Quantity Surveyors CC, which assisted in the building of Gleneagle Office Park, part of Riverfields, says there are many advantages to owning property in, as well as being a tenant of, Riverfields.
“Everyone wants locality and prestige, and Riverfields offers that,” he says.
Charlene Grobler, operations manager at CLE Properties, a real estate company in Kempton Park, shares some property trends of the area: “Demographics show this area is active in terms of property being bought – Gleneagles Estate, for example, has sold 1 122 properties over the past year.
“The area is definitely good value for money, as it is close to the airport and most communities are connected to the highways,” she says.
Irma Erasmus from Erasmus Boulevard Properties – preferred agent for Riverfields – says, “In Gleneagles Estate, entry-level prices are in the R2-million-plus bracket but averages are around R5-million in the upper bracket of the market. In Glen Erasmia we see similar sale values being realised. Compare this to neighbouring suburbs and it is clear that Riverfields has seen excellent returns.”
Demand for residential accommodation is strong not just in the upper-end of the residential market, with townhouses at The Villas, starting at R1 670 000, having sold out almost immediately on launch.
According to Demacon (2014), in Kempton Park the largest proportion of its working population falls within the middle- to high-income category, with a weighted average monthly income (R33 117.49) nearly three times the national weighted average monthly income (R10 815.73). In addition, Kempton Park has averaged a 6.3% growth in disposable income since 1996 – a much higher growth rate than the rest of the metropolitan area.
Demacon further says that residents in the LSM 9 to 10 brackets dominate the Riverfields area. Hein du Toit says, “Our research shows that more than half of the households are literate and educated. We also see a predominantly young and upcoming market aged below 34 years in the Kempton Park area. This is a dynamic and growing market.”
All sales enquiries can be directed to Irma Erasmus on +27 (0)11 391 0039 or email@example.com