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Major infrastructure and property development on West Rand
At least R5bn worth of new infrastructure and property projects are on the cards for Mogale City on the West Rand which is aiming to become one of the top economic growth areas nationally. And the residential property market in the area is already taking off as a result, says Gerrit Alberts, manager of the local RealNet franchise, with many business executives now choosing to live in its upmarket hillside suburbs.
Eskom, in partnership with the city council, will be spending around R1bn on upgrading and expanding the electrical infrastructure over the next three years. Other major approved projects include a R2bn shopping centre and housing development around the Leratong crossing; the R1,5bn Cradle Mall development and the R1bn Rangeview Extension 4 development close to the Walter Sisulu Botanical Garden.
"Various other building projects have also been approved, and altogether 6 000 new homes in Mogale City are now in the planning stages. Meanwhile, though, areas such as Noordkruin and Noordheuwel are already popular with top local businessmen and buyers from elsewhere in Africa," Alberts says.
Good value for money
"The main reason is that, for the moment, these areas offer very good value for money, especially when compared to similar upmarket suburbs closer to Johannesburg. Prices of executive homes here range from around R1,8m to R3m. At the same time, those who must commute find that their offices in Johannesburg, the northern suburbs, Pretoria and Midrand are actually easily accessible via the N14 and various feeder roads."
Buyers at the lower end of the market are also still finding good value, he says. "It is still a buyers' market and we recently sold a small fixer-upper in Krugersdorp West, for example, for a mere R300 000. But properties at this level are scarce, and most entry-level buyers target solid, older three-bedroom homes at prices from R480 000 and up."
Younger buyers are attracted to Chancliff, a new security complex that offers neat face-brick units with two bedrooms and a garage at prices between R700 000 and R800 000, he says, while family buyers are most active in the R800 000 to R1,3m price range.
Alberts says Mogale City offers modern shopping facilities such as the Key West centre in the Krugersdorp CBD as well as a convenient spread of smaller centres throughout the suburbs. Good schools are also a strong draw card, especially the Monument Hoërskool, renowned as the alma mater of several top athletes and national and provincial rugby players.
