Pretoria's Property Market Supply & Demand.
Category Lifestyle
Are you thinking of buying property in Pretoria? It might be one of the best times. With high-interest rates, a relative easing in fuel prices, and concern over the energy grid, South Africans are clutching their purses closer to their chests. Yet, Pretoria East remains a vibrant and diverse suburb offering a balance between sectional titles, office spaces, and free-standing homes.
Freehold vs Sectional Titles
While property remains resilient, the biggest movers are homes within the R3 million to R4 million range. This, in turn, offers a reasonable balance in the choice of free-standing homes and property within exclusive lifestyle estates such as Silver Lakes Golf Estate. While demand for sectional titles is higher, free-standing homes remain quite popular.
The only instances where property remains stagnant are because they are overpriced. The market continues to favour the buyer as supply continues to outway demand. However, this gap is closing as sellers are starting to realise that they may not be able to get the price they were hoping for.
The rental market
Pretoria East does not necessarily cater to the first-time buyer bracket. However, following 2021's uptick in renters having the opportunity to buy instead, many first-time buyers have been afforded the option of seeking out reasonably priced properties within the area due to the short window of low-interest rates.
Pretoria's property scene remains an attractive option regardless of recent factors. Yet now, as the interest rate continues to rise beyond pre-pandemic levels, this market has slowed somewhat. As a result, rental property has seen an uptick in 2022 as potential homeowners who believe they have missed the boat still feel the need to live within the area.
Commercial property
Out of the industrial, office, and retail sectors within the commercial sphere, the industrial property sector remains the strongest national player. This issue is present regardless of the suburb, as the perception of oversupply in the market is mainly felt within retail and office spaces. In stark contrast, the perception of market demand slightly exceeds supply within the Industrial sector.
Due to global and local economic pressures emanating notably from high energy prices, broader inflation surges, and rising interest rates, the average time commercial property spends on the market could be anywhere from 20 - 26 weeks.
Silver Lakes Golf Estate's popularity
As mentioned previously, sectional title schemes remain Pretoria's most popular property option. The desire for freedom and security as homeowners spend more of their time indoors than ever is partially responsible for this.
There are also incredible attractions and amenities such as a nature reserve, hiking trails which wind through bush trails offering stunning views, and general recreational and sporting activities for all ages. The ability to have everything you need out of life packaged into a secure and prosperous community is a no-brainer for potential homeowners.
Link to properties for sale: Silver Lakes Golf Estate
Equestria
Pretoria's Equestria Estate was established in 2002. Building your home on the estate is easier with access control and 24-hour security. The estate is comprised of 13 individual sectional title complexes, with a total of 1 241 units. A full-time on-site management team under the guidance of the directors of the homeowners association ensure that the estate is efficiently managed and well maintained.
Link to properties for sale: Equestria Estate
Contact Ikonic Real Estate today.
For Real Estate professionals you can trust and rely on for industry-related expertise, contact us below for more information.
If you are looking to live in Silver Lakes Golf and lifestyle Estate, Silver Stream Estate, Lombardy Estate & Health Spa, The Ridge Estate, Six Fountains Estate, or Willow Acres Estate and surrounding areas then Ikonic Real Estate is your preferred property practitioner to assist you in all aspects of the selling and buying process.
Office Number: 083 452 5599
Cell Number: 083 452 5599
Email: martin@ikonic.co.za
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Author: Bryce Anderson
