Property value and demand in Mayfair in Johannesburg is finding a foothold in the market place. When looking at how the property values in Braamfontein have increased then the same can be said for Mayfair.
The prime location of the suburb and varied property usage means a wide market will be satisfied and this includes commercial properties. Property usage comprises apartments, freehold homes and townhouses of which many have been given a major facelift to further enhance the possible income generated from sales and a very strong rental market.
This is in part is due to the proximity of the suburb to the three of the University of Johannesburg and the Johannesburg CBD to mention only two major factors that highlight the prime location of the suburb.
Property values at present reflect a middle-class income sector with a number of homes even reflecting a middle to upper-class income group.
When using Braamfontein as a model of redevelopment then Mayfair is set to become a similar suburb in terms of demand and growth in property values.
The suburb dates back to the founding of mining in Johannesburg which means it is well established and for renovators homes in the suburb offer the old world charm with bay windows, wood flooring and pressed ceilings.
The gentrification of commercial property, as is the case with some properties at present, is a very attractive proposition in the rental market in Mayfair.
Being such a well-established suburb means all the important amenities like schools and malls are in place. The prime location of the suburb is also highlighted by the proximity of the suburb to major roads which is a cost saving by today’s high fuel costs.
The suburb is close to a few major industrial hubs like Amalgam, City Deep and Village deep.
Here is a list of some of the popular schools in Mayfair Bree Street Primary School, Fordsburg Primary School and Johannesburg Secondary School.
Take a tour of the homes in Mayfair via the Myroof web-site.