South Africa’s township property prices are rising faster than other residential areas making houses worth over a million rand not uncommon. Soweto currently has 25 properties in the one million rand range, revealed Trish Luthuli, business executive at Pam Golding Properties.
She told CNBC Africa that people are seeing township property differently and that in the next couple of years Soweto will be the place to buy property. Currently 650 properties are on sale in the township.
The home of the late Dr Johnny Mosendane, one of Soweto’s most beloved public figures, has been placed on the residential property market. The home, which was designed by renowned architects Michael Sutton and David Walker in 1979, is being marketed for R3 million.