Steyn City, Johannesburg’s most prestigious and exciting lifestyle and residential estate, has entrenched itself as a supremely desirable address by fetching some of the largest rentals on record in the area.
Mark Williams, a realtor at Steyn City Properties, reveals that the highest price paid to date for a rental property in the development is R130 000 p.m., in a deal concluded in July. The five-bedroomed house (with five bathrooms all en suite) is considered one of the finest in Steyn City. With plush interiors designed by Ditau Interiors, the fully furnished house features state-of-the-art integrated appliances, two reception rooms, a study area and a rim flow pool, and is valued at R21 million.
Steyn City boasts five more properties of this calibre, and another has been leased at R120 000 p.m.
Williams isn’t surprised at the lifestyle resort’s ability to fetch these prices. “Granted, there are other lifestyle estates in the area, where rentals are cheaper,” he acknowledges. “However, none of them offer the depth and breadth of experiences available at Steyn City. After all, when you call something a ‘city’, you’d best make sure it lives up to the name!” Steyn City does, indeed, meet this challenge, providing residents with a number of amenities, from a Nicklaus-designed golf course to a world-class equestrian centre, a skate park, numerous jogging and walking paths, gym, schools, shops and other facilities, all in a parkland environment carefully designed so that residents never have to get in their cars unless it’s to visit a
destination outside the city’s gates.
Jean Markham, a rental specialist at Pam Golding Properties, agrees that it’s this accent on community living that makes the estate an enormous success, especially with multinational corporates seeking new homes for their expatriated employees. “I have worked in the area for 15 years, and have seen that the rental market is dominated by corporates,” she comments. Steyn City, especially, meets the needs of companies who wish to grant their employees a secure, pleasant home away from home. “Security and a top education usually top these individuals’ wish lists when it comes to finding a place to live. With Steyn City’s advanced security systems, and the on-site schools planned for residents’ children, it’s certainly able to answer both needs.
“More than this,” Markham continues, “Steyn City offers them the lifestyle they would enjoy in their cities back home: a place where they can work, visit friends, and enjoy quality time with their children, without having to drive great distances to do so.”
Markham believes that Steyn City represents a first for the Fourways area, as most luxury apartment estates have, traditionally, been located around the Sandton hub. Of course, Steyn City offers three options for purchasers – freehold stands, apartments and cluster homes – so that they’re able to make a choice that best suits their lifestyle. Nor does the lifestyle resort cater solely to tenants and home owners willing to pay top dollar. A number of different housing models are available, with one-bedroomed apartments usually fetching rentals of R14 400 a month while two-bedroomed apartments may lease for R22 000-R24 000. A three-bedroomed apartment may fetch R30 000-R33 0000, depending on whether it is furnished, informs Williams.
Like Markham, he believes that Steyn City will continue to attract interest from keen investors, buyers seeking a special home or tenants in search of a temporary address that affords them comfort and security. As a development that has already performed exceedingly well in spite of difficult market conditions, Steyn City’s status is assured.