Of all of Johannesburg’s suburbs, Hyde Park and Sandhurst, both of which are situated on the doorstep of Sandton, must have among the strongest claims to being the most desirable addresses available anywhere within the Gauteng region.
According to Rupert Finnemore, who heads up Pam Golding Properties Gauteng region, these two suburbs are highly prestigious and have long been regarded as the home of Johannesburg’s elite.
“Many of the city’s people aspire to live in Hyde Park and Sandhurst, and the immense status of owning a property in the area, as well as its geographically desirable location, have ensured the ongoing popularity of homes there,” adds Finnemore.
“While the upper-end of the residential property market in Gauteng has generally flattened in recent years, suburbs such as Hyde Park and Sandhurst remain highly regarded and much sought after addresses. During this first quarter of 2017, we have noted a pleasing degree of activity within these areas”.
“Although situated just minutes from high-density Sandton, and sectional title properties have become a much more common feature of these areas in recent years, many of the properties have remained of substantial size with large, well-established gardens”.
“This has ensured that both Hyde Park and Sandhurst have remained sought after among affluent families seeking generously proportioned gardens that can be enjoyed by the entire family and by those who enjoy an outdoors lifestyle against the backdrop of a beautiful garden”.
“Interestingly, New World Wealth’s recently-published The South Africa 2017 Wealth Report, respectively places Sandhurst and Hyde Park as the first and second most popular Johannesburg suburbs after Houghton for multimillionaires in 2016. And certainly, some of these exclusive mansions in these suburbs, with their extensive and immaculate gardens, can fetch as much as R80 million”, points out Finnemore.
In recent years, however, some of the properties within the area have been subdivided and have been developed into sectional title complexes or estates. Finnemore notes that more than half the properties in the two suburbs, both of which are more than 50 years old, are now sectional title developments.
“This diversity in property types ensures that there is a wide range of different property options available for those interested in acquiring property in either Hyde Park or Sandhurst. Sectional title properties represent a more affordable option for many people and these types of homes are consequently in strong demand.”
Louis Green, a Pam Golding Properties agent and area expert, says that an outstanding luxury five-bedroom home in the area situated on a 1,900 sqm property may fetch anything between R15 million and R32 million. In the more affordable category, a two-bedroom sectional title apartment is currently being marketed by Pam Golding Properties for close on R1.7 million. A townhouse, on the other hand, may fetch anywhere between R3 million and R6.5 million, depending on such factors as situation and the quality of amenities on offer.
“Most residents of the area are affluent business people and executives. They appreciate the fact that the suburb is so central, being just a few minutes from the Sandton city centre, South Africa’s financial capital and a shopping and entertainment mecca, close proximity to exclusive schools, as well as to the exclusive Hyde Park Shopping Centre, which is a favoured destination of Johannesburg’s more discerning shoppers,” notes Green.
“With traffic volumes having substantially increased in the Sandton area in recent years, residents of these two well-run areas appreciate the convenience of living close to their place of work, excellent healthcare facilities, retail and entertainment centres and other conveniences. Homes in these suburbs are highly sought after by foreign professionals and business people looking for quality homes close to the city.”
Hyde Park and Sandhurst are situated within easy reach of a number of arterial roads, a Gautrain station and some of the most highly regarded schools in the country, including St Stithians Boy’s College, Brescia House Ursaline Convent, Sandton Crawford College, Redhill School, St David’s Marist Inanda and King David Primary School Sandton, to name just a few.
Green notes that the rental market in the area is particularly active with a number of multinational companies renting residential properties for their employees. Townhouses and duplexes tend to be the most popular rental options, and some property investors are seeing excellent returns on their Hyde Park properties. The most exclusive properties, however, are not usually suitable for the rental market, as they tend to be beyond the reach of most.
“One property recently placed on the market for R32 million through Pam Golding Properties is a modern classic-styled five-bedroom double-storey home situated in the heart of Hyde Park on an immaculate 1,900 sqm stand,” notes Green.
“Another distinctive residence located within a prestigious Sandhurst estate and set on 1,916 sqm of tranquil gardens offering superb views, is available for R38 million. A luxurious three-bedroom townhouse duplex in Sandhurst, meanwhile, is being marketed for R6.5 million”.
“One would be hard-pressed to find a more centrally situated suburb that still offers large family properties with substantial well-established gardens. To the contrary, some residents’ become so attached to the area that they downscale to one of the cluster or townhouse developments when they become ‘empty nesters’, or reach the stage in life when their children leave home,” adds Green.
“Considering the rapid and ongoing development of Sandton, and the ongoing desirability of suburbs such as Hyde Park and Sandhurst, we expect properties in the area to hold their values well. With its convenience, exclusivity and wide range of property options, the area has much to offer. We, therefore, expect Hyde Park and Sandhurst to remain among Johannesburg’s most sought after suburbs well into the future,” concludes Finnemore.