Parktown North poised for growth

Posted On Tuesday, 05 November 2019 11:51 Published by
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After peaking in mid-2015 and a subsequent period of flat growth, Parktown North seems set for a return as developers target one of Gauteng’s most popular destination suburbs.

 -RUPERT-FINNEMORE-

With only 1283 residential units in the area, only 213 are sectional title units.

According to Rupert Finnemore, head of business development, Leadhome, growth in Parktown North has been steadily increasing over the past four years and he notes: “There is a healthy, positive sentiment in Parktown North, as well as the greater parks area, and rental and sales prices are on the rise.”

Demand in this area is predicted to increase, and Leadhome is excited to be involved in the launch of this development. This unique Parktown North offering is called The View on First, a 50-unit sectional title, suburban complex made up of 2- and 3-bedroom apartments, penthouse units with rooftop gardens, a clubhouse, pool and gym. This development will also include excellent security, backup borehole water, Egoli gas, and lift access.

VIEW-ON-FIRST-

“Through this development, we are introducing a significant number of extra sectional title units to the market. In total, it will represent an additional 22% sectional title units within the area, adding more value to an already popular real estate market. Leadhome is confident that The View on First offers excellent value, it is modern and well-priced,” says Finnemore.

Furthering the upliftment of the area is the noticeable increase in younger buyers. According to Property24, 35% of buyers are between the ages of 18 and 35, while 49% are aged between 36 and 49. At 78%, the majority of sellers range between the ages of 36 and 64. These statistics show a younger population moving into the area and justify the need for more sectional titles.

These sectional title units start at R2,499,000 and the estimated handover date is March 2021. A launch event will take place on-site at 70 1st Avenue East, Parktown North on 14 November 2019 from 16h30 to 18h30. 

Last modified on Tuesday, 05 November 2019 13:36

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