Weekend Argus (Saturday Edition)
Lower prices are big drawcard for sectional title homes
THE PRICES of sectional title properties are far more accessible than free-standing homes, and this is another drawcard for the sectional title sector.
However, Trafalgar Property’s Andrew Schaefer says amenities in a sectional title building make a difference in terms of rentals. These include security, fibre, DStv ready, pool, playground facilities, and proximity to transport, shops, entertainment, schools and work opportunities.
A price comparison between free-standing homes and sectional title homes in estates, complexes and apartments shows the following price differences: CENTURY CITY (AVERAGE PRICE)
Free-standing home: None Sectional title apartment: R1.893 million Sectional title in a complex: R2.375m
Sectional title in an estate: R3.306m. Source: Lightstone and Propstats (provided by Seeff Property Group) PARKLANDS (AVERAGE PRICE) Freestanding home: R1.8m Sectional title apartment: R900000 Sectional title in complex: R1.1m Sectional title in an estate: R1.7m. Source: Lightstone and Propstats (provided by Seeff Property Group) CLAREMONT (AVERAGE PRICE) Free-standing home: R3.336m Sectional title apartment: R1.275m Sectional title in a complex: R1.764m
Sectional title in an estate: R4.044m. Source: Lightstone and Propstats (provided by Seeff Property Group) KENILWORTH (AVERAGE PRICE) Free-standing home: R2.45m Sectional title apartment: R1.185m
Sectional title in a complex: R1.983m
Sectional title in an estate: R2.075m. Source: Lightstone and Propstats (provided by Seeff Property Group) BELLVILLE – STELLENBERG (AVERAGE PRICE) 3-bed/2-bathroom freehold: R2.290m
3-bed/2-bathroom sectional title: R1.695mn AVERAGE RENTAL PER MONTH:
3-bed/2-bathroom freehold:
R14 500
3-bed/2-bathroom sectional title: R9 000 Source: Chas Everitt International