Wedgewood Sandton breaks barrier to entry in Africa’s richest square mile
Wedgewood Sandton introduces a first-of-its-kind Balwin lifestyle apartments from R799,000
The coronavirus pandemic has fundamentally changed the separation between home and work life for people the world over. South Africans are no different. Working from home has become the norm for many, and this has made us reassess the environments we live in and their potential to double as places of work.
The economic outlook for SA coming into 2020 was dire and the coronavirus pandemic has further battered an already flailing fiscus. The property sector, however, has buoyed in recent months following the easing of lockdown restrictions and lowering of the repo rate, currently down to 3.5%.
Property investors currently enjoy a prime lending rate of 7%. The market has responded positively, with a 1.4% property price increase by July, according to a recent report.
“There is no doubt that strategically positioned properties, geared within the right price-point and supported by a modern, and in many instances, green-inspired lifestyle, are in high demand,” says Steve Brookes, CEO of SA’s largest residential developer.
“At Balwin Properties, our vision is to bring people from previously disadvantaged areas into prime locations. This is the ethos behind our new concept, ‘Balwin Lifestyle Apartments’. Through this concept we are able to help more South Africans secure their own homes in an achievable way in a prime location such as Sandton.”
Wedgewood Sandton offers studio, one- and two-bedroom lifestyle apartments from R799,000. A deposit of R10,000 is required on purchase with all transfer and bond costs included in the purchase price.
A 2015 finding by Stats SA found that roughly four in 10 South African workers used public transport to get to and from work, with taxis taking close to a quarter of the net spend on public transport.
Interestingly, the study also found that “workers in households from the highest income quintile are more likely to spend more on their travel costs (R582 per capita) compared with workers in households from the lowest income quintile (R491)”.
Proximity to their workplace, then, is a major pull factor for SA’s higher earners.
Balwin Properties’ Wedgewood Sandton provides a once-in-a-generation opportunity as a singular investment or as part of a portfolio on two fronts. MortgageMarket has partnered with this groundbreaking development to help residents get the best bond available and offer expert advice, which is especially vital if it’s your first entry into the property market.
With an eye on sustainability and lowering power and water costs, the Wedgewood Sandton is Excellence in Design for Greater Efficiencies (Edge) certified. The building boasts smart meters, solar-powered geysers, energy-saving light fittings and sensors, reduced window-to-wall ratio, an insulated roof, natural ventilation, low-flow faucets and fixtures and dual-flush toilet cisterns. In the long run, this saves the resident and owner an average of 20% on utilities.
Other apartment characteristics include:
- smart, efficient interiors;
- ergonomic design for movement and practical use of space;
- streamlined flow from living areas
- functionally fitted finishes and appliances included;
- use of natural light;
- private balcony with a vertically landscaped green wall
- fibre- and DStv-ready;
- prepaid meters for electricity and water; and
- 24-hour security with biometric access.
The Wedgewood Sandton studio, one-bedroom and two-bedroom lifestyle apartments will launch on November 21 2020.
This article was paid for by Wedgewood Sandton