• Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

  • Terry Bell's Inside Labour

    Private firms can't be blamed for picking up anything lucrative on offer, says Terry Bell.

All data is delayed
See More

Record price of R2.5m for iconic Soweto home

Feb 18 2016 20:00
Carin Smith

Johannesburg - The iconic home of the late Dr Johnny Mosendane, a well-known public figure in Soweto, has been sold for R2.5m, a new record price for the township, home to about 40% of greater-Johannesburg’s population.

In July last year the home was put on the market at R3m.
Trish Luthuli, new business executive at Pam Golding Properties (PGP) in Gauteng, said on Thursday that the five-bedroomed property, situated in Rockville, Moroka, was designed by renowned architects Michael Sutton and David Walker in 1979. It has won various architectural awards.

The all-brick design has split-level reception rooms with a wood-burning fireplace, unusual barrel vaulted ceilings and sky roofs. It has a swimming pool and expansive gardens.
“We are tremendously excited about the sale of late Dr Mosendane’s home, which is a well-known landmark within the Rockville community,” said 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."

In Luthuli's view, 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.
There is a growing urban population and black middle class within Gauteng and this translates into an ongoing demand for affordable homes to buy or rent, according to Luthuli.

"We do not believe 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," she added.

"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.”

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

pam golding properties  |  soweto  |  property


Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote