Soweto home belonging to a Dr sold for R2.5Mil

Source: source: Sowetanlive

ille property has been sold for R2.5 million‚ setting a new benchmark for luxury homes in Soweto.

“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‚” Trish Luthuli‚ New Business Executive at Pam Golding Properties‚ said on Thursday.

The home was put on the market in August 2015 by the widow of the late Dr Johnny Mosendane.

The five-bedroom property was designed by architects Michael Sutton and David Walker in 1979. It boasts split-level reception rooms‚ five garages‚ unusual barrel-vaulted ceiling‚ sky roofs‚ swimming pool and expansive gardens. The property is situated on a 1375sqm stand.

Nomusa Mosendane‚ 70‚ the widow of the late doctor who succumbed to cancer in 2014‚ told the Sowetan last year that she was selling the house as it had become too big for her alone.

“I cry every day because I am going to miss that house and the memories we shared in it‚ but I am scared to live in it all by myself‚” said Mosendane‚ who had moved in with her daughter in Fourways.

Luthuli said there is a growing urban population and black middle class within Gauteng 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… 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.”

Images: Pam Golding

Many middle class and wealthier individuals have been returning to Soweto from Johannesburg’s residential suburbs over the last number of years‚ she added. “The Soweto of today is hip‚ hot and happening and many people prefer it to some of the more staid‚ often quieter residential suburbs.”

According to Luthuli‚ the average home in Soweto sells for approximately R300‚000‚ rising to R750‚000 in Meadowlands and between R1.5-R2-million for upmarket homes.