Healthy real estate market proves Boksburg has plenty to offer
Aïda Boksburg has been selected to feature in the second season of Guiding You Home, which will be broadcast on the Home Channel on June 20.
To give viewers a taste of what to expect during the programme, the Advertiser interviewed the Aïda Boksburg principal, Denver Ramnath about the current real estate market in Boksburg.
According to Ramnath, Boksburg has been suffering from a tarnished image for many years.
One of his reasons for going on the television programme is to show the world that Boksburg is not the poor cousin on the East Rand.
“Boksburg doesn’t have to play second fiddle to any other town. The homes that we will be showcasing compete with the best in the country,” said Ramnath, who has been in the real estate industry since 1994.
He said that good-quality homes at reasonable prices make Boksburg an attractive city to stay in.
“Properties, generally, are not overpriced in Boksburg. Your average buyer can therefore afford to invest in Boksburg,” he said.
“In other words, buyers and sellers get value for their money in Boksburg, as the property market has kept its value.”
He added that there are some innovative developers in Boksburg who keep the market active and have ensured the city maintains its strength in drawing investors.
“For example, you will find some of the best security estates in Boksburg, which is a huge plus since a lot of people are buying for security reasons,” said Ramnath.
Another key factor to Boksburg’s appeal as a city of choice is that it boasts many attractive features, such as malls, hospitals, good schools, nightlife, top-rated restaurants and the OR Tambo International Airport on its doorstep.
“We have found Boksburg residents working in areas outside the city are more than happy to commute, because they’ve got everything that they want in a property right here.
“The traffic congestion in Boksburg is nothing compared to Sandton, for example. So yes, we should feel proud of our city.”
He said buyers in Boksburg are proving to be quite diverse.
“For certain, all types of people invest in property in Boksburg, as it also attracts government employees, doctors and your upmarket buyers.
“There’s a cosmopolitan mix of people in Boksburg. The type of people who buy here are interesting.
“So the bottom line is, do not put Boksburg in a box, as we are definitely much more than the outdated perception of an East Rand town. ”
According to Ramnath, the prices of homes in Boksburg vary, depending on the area and whether it’s an open area, a security estate, a village or a boomed-off suburb.
“You could get a three-bedroom, two-bathroom home, with a double or a single garage, maybe with a pool, from R800 000 up to R1.7 million entry level,” he said.
“Entry level properties/flats start at R500 000 to R550 000, houses from R750 000 to R800 000 and boomed /gated areas from around R1.3-m.”
He also warned those who are selling not to underestimate the buyers.
“Buyers buy by comparison, so they compare similar homes in similar areas. Therefore, sellers should not make their properties too expensive because the buyers will know and take note.”
Villages, estates, clusters and flats/upmarket townhouses are popular in Boksburg. However, there are still people building luxurious homes in security estates.
According to Ramnath, predominant areas in Boksburg are Bartlett, Beyers Park, Parkrand, Parkdene, Cinderella, Sunward Park and Witfield. Impala Park and Witkoppie Ridge are also proving popular.
“I predict that should the interest rate stabilise and there is confidence in the economy, property prices will gradually increase in line with the rest of the country.”
If the interest rates continue to climb and there’s no confidence in the economy, Ramnath predicts property prices in Boksburg will increase in the next couple of years, which is no different to the rest of the country.
Even though the country will be going through a few challenges, he is positive about the real estate market.
His advice to young buyers is to get onto the property ladder, to look at a selection of properties, to keep their credit record clean, to pay their bills on time, to maintain credit and to do a credit check on their life partner.
