Gautrain boosts property prices
Since the establishment of the Gautrain station in Rosebank, northern Johannesburg, property prices in the area have rocketed.
Property analyst company Lightstone said: “In the past five years, Rosebank has seen a positive inflation, some of which could be attributed to the Gautrain. After the station was opened in Rosebank, property prices close to it achieved an additional 2.5% growth compared with prices for property in the surrounding areas that are further away.”
Lightstone data have also shown similarities between Centurion and Sandton, which could indicate Centurion has the potential to develop into a bustling business sector.
“When comparing commercial property growth, Marlboro experienced retail property inflation of almost 10% during the 2011/13 period, 4% of which can be ascribed to the existence of the Gautrain and the surrounding properties’ proximity to the station.”
Further expansion of the Gautrain is planned for Randburg, Cosmo City and Little Falls.
“If Gautrain has had a positive effect on the property market in Rosebank and Sandton, it is reasonable to expect the same from areas such as Cosmo City and Mamelodi,” Lightstone said.