Soweto ‘set for growth in sectional title living’

Fresh from being appointed managers of Orlando Towers Estate, Landsdowne Property Group said it expects sectional title and lifestyle development in Soweto, SA’s largest township, to take off in the years ahead.

“We see massive growth potential for sectional title management in Soweto as new models in urban living in traditional townships increase on the back of demand for secure lifestyle environments,” said Landsdowne CEO Jonathan Kohler.

“Developments such as Orlando Towers Estate help to improve the area’s appeal, especially to many young people who grew up in free-standing homes and are now transitioning into secure communal living. It also brings more purpose, enabling those who want to leave their maternal homes to still live in the area but in a development of their choice.”

Orlando Towers Estate, the township’s maiden sectional title and lifestyle development, has already sold 136 units of a complex comprising 568 units, with prices between R600,000 and R980,000.

The project is Landsdowne ’ s first foray in Soweto, and Kohler is impressed with what the township has to offer property developers. Kohler, who heads one of SA’s largest residential real estate managers, said he expected more of such developments in Soweto. Various market factors counted in Soweto’s favour as a prime destination for such projects, including “a growing pool of potential buyers and tenants who can afford to buy or rent property in secure lifestyle estates”.

At present Landsdowne oversees more than 35,000 sectional title apartments and freestanding clusters in the country.

“When people buy into a sectional title scheme, the first thing they want to know is the financial position of the scheme as this gives them confidence that their investment will grow in value over time. This, in turn, has a direct impact on the price the seller can negotiate,” Kohler said.