Low vacancy rates in Rosebank, Johannesburg's commercial office space present a significant advantage for residential apartment investors. This coupled with a mass insurgence of large corporates to the area in general, as well as new commercial developments by property funds and large corporates, like Standard bank, Anglo American, Life Health Care, De Beers, Coca-Cola, BP, Sappi, to mention a few. Rosebank has become its own thriving economic hub, making it a top option for residential investors looking for tenant stability and increasing year-on-year rental returns. Renprop’s rental properties, both owned and managed, are escalating in excess of 10% annually, including The Median Apartments.
The office vacancies in Rosebank are the lowest in Gauteng. With a limited availability of office space, the high demand from businesses has created a thriving economic hub.
This, in turn, attracts professionals who prefer to live near their workplaces. In addition to those who work in the area, the Gautrain station is a mere 5min walk away, as well as the area attracting many tourists and remote workers, facilitating the perfect Airbnb setup for investors as well.
Chris Renecle, MD of Renprop, says, “The supply of residential property in northern Johannesburg has reduced to a trickle, but the demand for remains extremely high, and therefore we predict and increase in capital values because demand excess supply.
The consistent demand ensures a steady stream of potential tenants, reducing the risk of prolonged vacancies.
Rosebank has benefited, and still does, from consistent improved infrastructure, increased amenities, and a vibrant social scene, making it an even more attractive location for residential apartment investors. Rosebank Central is full of life, with everything on your doorstep, from top restaurants, art galleries and bespoke retail outlets, to everyday essentials found in Rosebank Mall including Woolworths and Spar, to Starbucks and corner coffee shops, remote work spaces and more.
By capitalising on this trend, investors can enjoy attractive returns by offering well-located apartments to a growing number of professionals who wish to live in close proximity to their workplace, and a secure investment in a booming and ever-growing neighbourhood.