Gauteng Business News

Send  Share  RSS  Twitter  26 Oct 2011

PROPERTY: Â‘Big TicketÂ’ Sales for Pam Golding Properties Gauteng


Recent Gauteng Business News

Having recently concluded a number of sales in the top end of the Gauteng residential property market, Pam Golding Properties Gauteng reports a resurgence of interest in this sector, with buyers seeking prime properties but with an emphasis on sound value for money.

Comments Dr Andrew Golding, CE of the Pam Golding Property group: “During the months of July and August 2011 we have achieved a number of ‘big ticket’ sales in Johannesburg’s affluent Northern Suburbs, which have further boosted the region’s sales turnover.”

Sales of Pam Golding Properties in Gauteng

These include the following sales successfully concluded by Pam Golding Properties (PGP): a home in Westcliff which fetched R35 million; a house in Bryanston which sold for R30 million; homes in Sandhurst which achieved prices of R23.68 million and R16.3 million respectively; and a home in Houghton Estate which was sold for R16 million. In addition, PGP sold an apartment in Melrose Arch for R22.2 million.

Adds Dr Golding: “Independent sales data reveals that over the past 18 months, approximately 25 percent of all Northern Suburbs sales in the upper end of the market – which in the current market is from approximately R15 million upwards - were concluded by Pam Golding Properties, which is more than double that achieved by any other agency. This is despite the fact that overall, and during this period, the Northern Suburbs experienced a drop-off in sales across all price bands - indicating that in addition to increasing sales we have gained market share as both buyers and sellers continue to favour reputable brands coupled with quality of service,” adds Dr Golding.

Jonathan Davies and Rupert Finnemore, joint area managers for PGPÂ’s Hyde Park office which operates in the Northern Suburbs, comment that those currently seeking luxury homes are mostly local purchasers, although they report some buyers are those relocating back to Gauteng from the Cape Town area, while others are from African countries such as Kenya, Nigeria and Zimbabwe.

Says Davies: “Our buyers are mostly individuals purchasing a primary residence, with some corporate buyers. There is a growing trend towards ‘new money’ or recently acquired wealth flowing into the market via those wanting to acquire residential property at the ‘best’ address available. Location remains key and a prime Hyde Park or Sandhurst address remains highly sought after, however we note that buyers are finding value in the upmarket area of Bryanston, which is also centrally situated and conveniently located in regard to the Sandton CBD.”

Finnemore adds that the top end of the market remains sustainable due to its resilience as sellers are in a position to sit out any downturn in the market and as a result, properties tend to maintain value despite challenging market conditions. He says coupled with this, many purchasers are able to provide a high cash to loan ratio.

R65m Home on the Market by Pam Golding Properties Gauteng

PGP is currently marketing a spectacular Stefan Antoni designed mansion in Bryanston for R65 million. Set high on a ridge with spectacular views, this 2 400sqm residence includes five luxurious bedrooms – all en suite, with the lavish main en suite extending over the entire top floor, complete with study and private Jacuzzi deck. Set on an erf of 4000sqm the property has an exceptional entertainment deck with rim-flow pool and koi ponds, full home automation, excellent security, motor court for four vehicles plus a charming two bedroom cottage with private entrance. These are the kind of high standards and amazing oppourtunites that can be realized with Pam Golding Properties in Gauteng.


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