A R44bn development, new roads and a multitude of estates that cater for different types of buyers are set to give the property market in the Far East of Pretoria a huge boost.
Even though the Far East of Pretoria has always offered sound real estate opportunities, property experts agree that investing in this area has never been more favourable than what it is right now.
Gina Olivier, an estate agent with Seeff Pretoria East, says reasons supporting this statement include the new road which will link the N4 to the R21 (known as Hazeldean road) and also another road that will offer much faster access to OR Tambo and Johannesburg.
“A R44 billion development dubbed ‘The East Capital’ which will have its own Gautrein station and a hospital, shopping mall, office parks, Tourism Offices and hospitality offerings is also planned in the next few years.”
Olivier explains that the Far East includes the Silver Lakes and Hazeldean areas and consists of 12 upmarket estates that all offer fantastic schools within a short distance and offer a wide variety of property, ranging from bachelor units to exclusive mansions.
“Depending on what you are looking for, prices in these estates are still relatively affordable, but with all the development planned within the next ten years and the employment opportunities predicted to arise as a result, prices will definitely skyrocket.”
Lombardy Estate
Olivier says Lombardy Estate is higher up at the foot of the mountain and is one of the most popular estates with clients.
“It offers a beautiful, secure, upmarket lifestyle and boasts open areas, paved walkways, lakes throughout and wild geese, abundant birdlife and bunnies that roam free.
Homes are modern and spacious with special lake houses and fountain developments inside the estate. There are also lock up and go clusters and apartment style homes.
There are only a few vacant stands still available with prices ranging between R1.6 and R3 million.
New Second Phase Fountains Units starts from R1.250 million and New Second Phase Lakes Houses are priced from R3.4 million. Freestanding homes cost anything between R4 million and R10 million.
This three bedroom, three bathroom Lakes House in Lombardy Estate is on the market for R4 650 000 million.
Tyger Valley Country Estate
This new estate is situated on a mountain with fantastic views and offers big stands of around 1000 m2 each.
Living in this estate is like living on your own small holding and only a few homes have been built that are priced from R5 million upwards.
Silver Lakes Golf Estate
This is the oldest of all the estates, but ticks all the boxes in terms of a championship golf course, luxurious mansions, a clubhouse and very good security. Property is priced between R2.5 million and upwards of R15 million.
This five bedroom and four bathroom home in Silver Lakes is in the market for R7.5 million.
The Ridge Estate
This estate also offers big stands and has interleading gates to the Curro Schools which are very popular with larger families with school going children. Phase 2 of this estate has just been launched and property cost between R3.5 million and R10.5 million.
Oukraal Apartments
This development offers smaller stack units that are ideal for investment purposes and especially younger, first time buyers. Property here is priced between R450 000 and R650 000.
Other estates include:
The Meadows, that also has a Retreat retirement village and is priced from R2.5 million to R5 million.
Willow Acres Estate, close to the N4 where property prices range between R1.8 million and R5 million.
Six Fountains close to N4 where property prices range between R2.5 million and R5 million.
Silver Woods Country Estate that is an established estate offering good value for money where property is priced between R2.9 million and R8 million.
Silver Stream Estate that is a smaller estate where property is priced from R2.3 million to R6 million
Newmark Estate where prices range from R2.3 million to R4 million and Leeuwenhof Estate offering property between R450 000 and R4.3 million.
Price ranges are an estimate of property currently in the market in these estates.
