Gauteng Property Market in Johannesburg is a fascinating market! New developments are being built left, right and centre. With so many developments being built, it’s important to know what the market is asking for. Is the market interested in freestanding homes or apartments? Does the market prefer Freehold or Sectional Title developments?
We are going to break it down into the following different areas in Johannesburg: Sandton, Soweto, Midrand, and Roodepoort.
Sandton:
Most of the properties in Sandton are Sectional title units (50%). This shows the high densification that has taken place in Sandton. Most recent buyers are between the ages of 36 and 49 years of age (43%).
Below the graphs show the median house price values for sales in selected years. In 2021 a freehold house cost on average R2.85 million and a sectional title house cost R1.13 million to purchase in Sandton.
Midrand:
Most of the properties in Midrand are freehold (53%) and most recent buyers are between the ages of 18 and 35 years old.
A freehold house in Midrand will cost you on average R1,350,000 and a sectional title unit will cost you on average R886,000.
Soweto:
Almost all properties in Soweto are freehold 99%. Most recent purchasers are between the ages of 36 and 49 years of age.
The average price of a freehold house in Soweto is R434,000 and the average price of a sectional title unit is R498,000.
Roodepoort:
In Roodepoort, 45% of houses are freehold and 45% are sectional title. Both property types are very popular. Most recent purchasers are between the ages of 36 and 49 years old (44%).
The average price of a freehold house in Roodepoort costs R1,579,000 and a sectional title house costs R740,000 in 2021.
