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

City of Joburg Housing Development wins UN award

Sep 17, 2019
 MESHACK VAN WYK
The City of Johannesburg’s Housing department has won a Sustainable Cities and Human…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mixed-use is the key to funding hotel development in Africa

Sep 17, 2019
 XANDER NIJNENS
JLL’s research into global property transactions reveals that in the first half of 2019,…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.