Hillbrow and Berea in Johannesburg are probably the cheapest urban property in the world.

So are flats in the Durban CBD and next door Albert Park.

But even there, prices are rising fast, from less than R100 000 for a two-bed flat three years ago to more than R300 000 today.

Prices in Arcadia and Sunnyside in Pretoria are quickly catching up with leafy suburbs next door.

But, given the obvious risks of grime and crime, CBD living with the notable exception of Cape Town is not the first choice of most FM readers anyway.

All SA's major cities now have golden corridors of super prime suburbs that would be the first choice of most homebuyers if they could afford it.

They have access to the best domestic infrastructure, such as schools and luxury shopping.

They will always be the most desirable suburbs; their prices will rise fastest and will hold their value best when the market slumps.

There is often a big drop in price from the golden corridor to the adjacent suburbs, from Houghton to Bellevue in Johannesburg or from Tokai to Retreat in Cape Town, for instance.

The secret is that the golden corridor keeps growing as the market booms. In Johannesburg, Parkhurst, Greenside and Emmarentia are catching up with Parkview and Parktown North, for example.

Woodstock prices are rocketing as next door Cape Town CBD becomes home to some of the most expensive high-density residential property around.

Forget about Durban's overhyped Point development; next door South Beach and even North Beach must have some of the best beachfront bargains in the world.

Similar or adjacent suburbs don't always rise in price simultaneously. Greenside prices rocketed for three years before buyers woke up to the relative bargains in Parkview.

Now it has taken off. Suburbs next door to Woodstock have not yet mirrored its recent rise.

Take your time and investigate the suburb of your choice and its neighbours carefully for such differences before you buy.

They may be small but at least they give you some potential outperformance.

First-time home buyers are always frustrated because the trendy loft homes or Sandton CBD apartments they crave are beyond their budgets.

But you can still live there and be a property owner.

Buy a property in one of the low-priced, but high yielding inner-city suburbs and rent in the suburb of your choice.

You will have all the advantages of luxury living for less than half what buying will cost, while growing your wealth at the same time.