Huge demand for property
There is a great demand for new cluster developments with cash-ready buyers willing to pay R4.7 million and upwards for a modern home in a secure development.
This according to Seeff Sandton/Midrand projects director, Glen Fisher. “The demand is driven by buyers wanting to get closer to the Sandton CBD and settling in upmarket suburbs, but currently the demand far outweighs the supply, he said.
Eight executive clusters in the ultra-modern development Salida del sol in Morningside, priced between R3.9 and R4.7 million, sold out off-plan. Half of these sales were in cash by foreign buyers.
Fisher said selling all units off-plan was a first in Morningside. “The growth and shift of Johannesburg’s commercial and financial power-base to the Sandton CBD has significantly benefited the residential market within the greater Sandton area. There is a great demand for well-priced sectional title and clusters.”
