High-net-worth individuals flock to Pretoria East’s residential estates

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11-12-2024
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Property Wheel
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Pretoria East is witnessing a boom in estate living with prices upwards of R5 million to around R18 million recorded, says Seeff who has sold 61 properties over R156 million over the last two months in the area alone.  

For the year to end of October 2024, some 20 626 transactions worth plus R25.3 billion have been concluded across the Tshwane metro at an average price of R1.228 million according to Lightstone. Approximately 4 056, comprising 16% of transactions, relate to estates – freehold and sectional title.

While the R3 million to R5 million price band is most in demand, numerous high value estate homes have sold for over R5 million with the highest prices paid in Pretoria East.

The highest volume of higher price band sales was in Woodhill Golf Estate (R10.5 million), Silver Lakes Golf Estate (with several sales over R10 million to R18 million) and Mooikloof Residential Estate (R16 million).

According to a New World Wealth Report, Pretoria is one of Africa’s wealthiest cities and home to some 2 100 high-net-worth individuals, noting the top suburbs such as Waterkloof and Waterkloof Ridge.

Seeff says that rentals in estates are also in high demand, fetching prices of up to nearly R80 000 per month.