Real Estate in Johannesburg, South Africa
Last updated on May 05, 2024
Summary: The average cost of a nice 2 bedroom home in Johannesburg, South Africa is around $200,000 USD. A nice 3 bedroom home in Johannesburg is around $250,000 USD. These properties typically include modern amenities such as air conditioning, modern appliances, and updated bathrooms and kitchens. Foreigners are allowed to purchase property in Johannesburg, however, they must obtain permission from the South African Reserve Bank. An expat should search for a home to buy in Johannesburg by researching the different neighborhoods and areas to find the one that best suits their needs. The most desirable neighborhoods in Johannesburg include Sandton, Parktown North, Morningside, and Bryanston. These areas are known for their high-end shopping, dining, and entertainment options.
How do I find a place to live in Johannesburg?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One way to find a place to live in Johannesburg is to search online for rental listings. Websites such as Gumtree, Property24, and Private Property are popular resources for finding rental properties in Johannesburg. Additionally, you can contact local real estate agents who specialize in the Johannesburg area to help you find a place to live. You can also search for rental listings in local newspapers and on social media platforms such as Facebook and Twitter. Finally, you can ask friends and family who live in Johannesburg for recommendations," said one expat who made the move to Johannesburg.
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What is a typical expat home or apartment like in Johannesburg?
"Expat homes and apartments in Johannesburg are typically modern and luxurious. Many expats choose to live in the city's affluent suburbs, where they can enjoy the convenience of nearby amenities and the security of gated communities. Expat homes and apartments often feature spacious living areas, modern kitchens, and large balconies or terraces with stunning views of the city. Many expats also enjoy access to private pools, gyms, and other amenities," explained one expat living in Johannesburg, South Africa.
What is the average cost of housing in Johannesburg?
If you are thinking about moving to Johannesburg, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Johannesburg is generally quite high. Prices for apartments and houses vary greatly depending on the size, location, and amenities, but the average cost for a two-bedroom apartment in the city center is around R15,000 per month. Prices for houses in the suburbs can range from R10,000 to R20,000 per month," said one expat who made the move to Johannesburg.
Should I buy or rent a home in Johannesburg?
If you have not spent a lot of time in Johannesburg, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Whether to buy or rent a home in Johannesburg, depends on a variety of factors. It is important to consider the cost of living, the availability of housing, and the current economic climate. Buying a home can be a great investment, but it requires a large upfront cost and a long-term commitment. Renting a home can be more affordable and flexible, but it may not provide the same financial security as owning a home. Ultimately, the decision to buy or rent should be based on an individual's financial situation and lifestyle," said one expat who made the move to Johannesburg.
What do I need to know when buying property in Johannesburg?
When we asked expats what advice they would give a foreigner before buying a property in Johannesburg, they said:
"When buying property in Johannesburg, it is important to research the area and the property thoroughly. Consider the safety of the neighbourhood, the quality of the infrastructure, and the proximity to amenities such as schools, shops, and public transport. It is also important to understand the legal requirements for purchasing property in South Africa, including the need to obtain a transfer duty clearance certificate. It is also advisable to engage the services of a qualified conveyancer or attorney to ensure that all legal requirements are met. Finally, it is important to obtain a professional valuation of the property to ensure that the purchase price is fair and reasonable," wrote one expat who made the move to Johannesburg.
Are foreigners allowed to own property in Johannesburg?
When we asked expats what advice they would give a foreigner before buying a property in Johannesburg, they said...
"Yes, foreigners are allowed to own property in Johannesburg. There are no restrictions on foreign property ownership in the country, and non-residents can purchase and own property in the same way as South African citizens. However, foreigners may face some challenges when it comes to financing their property purchase, as South African banks may require a larger deposit from non-residents. Additionally, foreigners should be aware of the legal and tax implications of owning property in South Africa and may need to consult with local experts to ensure compliance with local regulations," said one in Johannesburg.
What appliances are typically included in a rental?
We asked foreigners in Johannesburg what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In a rental property in Johannesburg, tenants can typically expect to find a refrigerator, stove, oven, and washing machine. Other common appliances include a microwave, dishwasher, and air conditioner. Depending on the property, tenants may also find a clothes dryer, water heater, and other small appliances," said one person in Johannesburg.
Additional Information about Searching for a Home in Johannesburg:
We asked foreigners in Johannesburg what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Johannesburg often begin by researching online through property websites, local classifieds, and social media groups. They may also consult with local real estate agents who have experience working with expats and are familiar with the housing market in the city. Additionally, expats may seek recommendations from friends, colleagues, or other expats who have already settled in Johannesburg. They may also explore popular expat neighborhoods and attend open houses or viewings to get a feel for the available properties. Furthermore, expats may consider joining expat forums or online communities to gather advice and tips on finding a suitable home in Johannesburg," wrote one expat who made the move to Johannesburg.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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