Dr Johnny Mosendane Soweto home sets new record price for the township

Posted On Thursday, 18 February 2016 14:11 Published by
Rate this item
(0 votes)

The historic home of the late Dr Johnny Mosendane, one of Soweto’s best-known public figures, has been sold by for R2.5 million, a new record price for the township.

Soweto icon¹s property sold for record price

Trish Luthuli, New Business Executive at Pam Golding Properties in Gauteng, says that the distinctive five-bedroomed property situated in Rockville, Moroka, which was designed by renowned architects Michael Sutton and David Walker in 1979, has been sold after having been placed on the residential property market by Pam Golding Properties late last year.

“We are tremendously excited about the sale of late Dr Mosendane’s home, which is a well-known landmark within the Rockville community,” adds Luthuli. “This is a record for a sale to an individual and further serves to affirm that, despite slow national economic indicators, the Soweto residential property market, across all segments, remains one of the more buoyant in Gauteng.

There are a number of reasons for this, including the fact that property rates in Soweto are substantially cheaper than in Johannesburg’s residential suburbs, and homes in the area offer affordability as well as excellent value for money.”

Luthuli notes there is a growing urban population and black middle class within the Gauteng centres and that some 40% of greater-Johannesburg’s population resides in Soweto, which gives an indication of its enormous size. “This all translates into an ongoing demand for affordable homes to buy and rent, and we do not believe that this trend is likely to abate anytime soon.”

“We also note that many middle class and wealthier individuals have been returning to Soweto from Johannesburg’s residential suburbs over the last number of years because they miss the colour and vibrancy of the sprawling metropolis. Others would never dream of ever leaving. The Soweto of today is hip, hot and happening and many people prefer it to some of the more staid, often quieter residential suburbs.”

Last modified on Thursday, 18 February 2016 15:26

Most Popular

Five things you need to know about the repo rate

Jan 28, 2021
The South African Reserve Bank has just announced that it is holding the repo rate…

SA REIT Association - Chairman's message and 2021 sector outlook

Feb 02, 2021
Estienne de Klerk_Chairman of SAREIT
Real estate has long been a rewarding sector of the financial markets. Like all sectors,…

It’s cheaper to buy than to rent a home in 2021

Feb 08, 2021
If the past year has taught us anything, it is how important our homes have become to us.

Thavhani City set for more growth in 2021 as its Motor City and medical developments accelerate

Feb 15, 2021
Thavhani City mixed-use urban precinct in Thohoyandou, designed to be the future economic…

Brand new residential development in La Lucia 60% sold through Pam Golding Properties

Feb 15, 2021
Such is the consistent high demand for centrally located, well-priced residential…

Please publish modules in offcanvas position.