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From R595,000: Central Park City brings affordable elegance to Johannesburg
Johannesburg’s housing market is set for a boost with Central Park City, a landmark mixed-use development featuring over 3,450 affordable apartments starting at just R595,000.
Source: Supplied.
The added amenities, from soccer to Pickleball, braai facilities and a swimming pool, are a first of its kind on offer in a new development. There are also great incentives to help first-time buyers, says Samuel Seeff, chairman of the Seeff Property Group.
Located centrally in the Newlands/Sophiatown area, and developed by Urban Dev Property Development, sales will be handled exclusively by the Seeff Randburg branch.
Seeff says it is a breakthrough in affordable housing for Johannesburg. The development is tailored for first-time buyers, offering a quality lifestyle and luxury amenities at an attractive price with favourable financing options. The aim is to make homeownership more attainable than ever.
The apartments will be fibre-ready with a choice of one, two, or three bedrooms, set in multi-storey blocks. Features include biometric security, and luxury amenities such as clubhouses, braai facilities, sports courts, playgrounds, parks, child-care, and a central retail hub.
Prices start at just R595,000 with finance and incentives available. The development targets first-time buyers through the First Home Finance (FHF) scheme which enables a once-off housing subsidy to qualifying buyers with a monthly household income of R3,501 to R22,000.
Green buying benefits
The developers have already secured Edge Certification (Excellence in Design for Greater Efficiencies), for energy and water efficiency, and sustainable building. This provides access to green home loans and benefits for buyers including a 0.25% interest-rate concession, and a cash-back incentive of up to 3% of the loan value (maximum R56,000). This could cover up to three months’ bond repayments, says Seeff.
There are also additional interest-rate concessions which have been negotiated via mortgage originators, ooba with the major banks for preferred clients. Additionally, says Seeff, the first 25 buyers will also get a phenomenal 5 percent discount on the purchase price.
Seeff says that the recent interest-rate reductions of 1.25 percent since September last year, means buying is now definitely more affordable than renting. The units are also ideal for rental investments given the high demand for rental housing in secure lifestyle developments.
Central Park City will offer security, convenience, and a quality lifestyle with future capital growth potential. The location offers excellent proximity to several main arterials and transport facilities (taxis and trains). It is close to good schools and both universities (UJ and Wits). Provision is also made for a professionally managed onsite crèche and aftercare centre, a significant benefit for working parents.
Lifestyle and community
The precinct will feature a bustling shopping village anchored by household names such as Pick ‘n Pay and Clicks, along with other curated stores and possibly also a private gym. Amenities will include laundromats, clubhouses, communal braai areas, children's play areas, private and public parks, and sporting facilities (combi courts, a full 5-a-side mini soccer astro court, Pickleball, outdoor gym, and skateboard rink).
Greening features include gas-powered geysers and cooking hobs, and solar PV systems and battery storage to mitigate load shedding to Stage 4. A dedicated on-site office will house Seeff’s marketing and sales operations, property- and body-corporate management, and the security operations.
Central Park City is more than a property development; it is designed for vibrant family living and strong community bonds. Seeff expects significant interest in the development. Aside from investing in a quality new home and luxury amenities, new developments also typically already see good capital value growth by the time of occupation, making it an attractive opportunity.
