GAINING FAVOUR

SECTIONAL TITLE rentals and sales have increased in popularity over the past two decades, says Tobie Fourie of Chas Everitt International.

He says Centurion in Gauteng has experienced “tremendous growth” in sectional title estate living, and in areas like Sandton the sectional title segment of the market has grown by 11% since 2013. “Over the same period the Western Cape saw 3% growth in sectional title living and a 2% decline in freehold purchasing. The most growth in sectional title was seen in the Strand, with a 12% increase.”

In the Western Cape, Fourie says units sized 70m² and below account for 51% of sales. This is followed by Gauteng with 36% and KwaZulu-Natal with 34%.

He says sales based on bedroom numbers varies.

“In the Western Cape, one-bedroom apartments account for 20% of sales and two-bedroom units for 59%, for example.”

PICTURE: ROBERTO NICKSON GROWING MARKET Sectional title sales and rentals are increasing rapidly.|