Most foreign buyers in Sandton are from the African continent, says Seeff.
Category News
The purchasing of homes in Sandton by foreigners is moderate, but consistent, says Charles Vining, Seeff’s Managing Director for Seeff Sandton.
“Around 15% to 20% of our sales can be attributed to foreign buyers. These buyers are mostly interested in upmarket homes in Hyde Park, Sandhurst, Morningside and Bryanston, but there is also much interest in sectional title units for investment purposes in and around Sandton central,” he says.
“Foreign buyers interested in Sandton property are mostly from the African continent and come from countries like Nigeria, Rwanda, Cameroon, Angola, Zambia, Ghana and the Congo, but we don’t see many European buyers or buyers from the Americas.
The price ranges in which foreign buyers obtain property are vast; from Sectional title investments priced from R1.5 million, to luxury apartments as a Johannesburg base priced from R3.5 million to R20 million. Secure, modern cluster homes priced from R4 million to R20 million are also popular as well as palatial residences priced from R15 million up to R30 million.
Although sectional title units in Morningside and Sandton central are popular with foreign buyers as investments, it would be safe to say the majority of our interactions with foreign buyers is on residential homes priced from R12 000 000 to R20 000 000, concludes Vining.
Author: Seeff
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