{"id":34397,"date":"2022-07-27T18:29:29","date_gmt":"2022-07-27T18:29:29","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows"},"modified":"2022-07-27T19:16:58","modified_gmt":"2022-07-27T19:16:58","slug":"only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows","title":{"rendered":"Only 10 homes in Soweto sold for more than R3 million, data shows"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Only 10 of the 183 525 registered homes in Soweto, Johannesburg, have reached a sale price of more than R3 million, according to the latest report by property analytics firm Lightstone.<\/p>\n

Most of the registered homes in Soweto (84%) are valued between R250 000 and R700 000, while 12% are valued between R700 000 and R1 million.<\/p>\n

Data shows that the number of registered homes in Soweto has more than doubled since 1994 and most of them by far (99%) are freehold properties. Sectional title properties have been registered in just two Soweto suburbs, namely Protea Glen Ext 11 and Jabulani, Lightstone reported.<\/p>\n

It will take years before house prices really grow again<\/p>\n

The vast majority (90%) of homeowners in Soweto are younger than 49 years old – 47% are under 35. In 2020 repeat buyers made up 59%, dropping to 38% in 2021.<\/p>\n

Despite the more than doubling of homeowners in Soweto since SA became a democracy, the residential property market in the area has been relatively quiet after a busy period from 2011 to 2015, according to Hayley Ivins-Downes, head of digital at Lightstone.<\/p>\n

The best year since 1994 was 1998, when 6 964 homes were registered, but the numbers in recent years have been more modest at 2 141 in 2019, 2 093 in 2020 and 1 849 in 2021.<\/p>\n

The most popular suburb to buy a home in Soweto was Braamfischerville Phase 2, followed by Thulani.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Only 10 of the 183 525 registered homes in Soweto, Johannesburg, have reached a sale price of more than R3 million, according to the latest report by property analytics firm Lightstone. Most of the registered homes in Soweto (84%) are valued between R250 000 and R700 000, while 12% are valued between […]<\/p>\n","protected":false},"author":84,"featured_media":34396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[274,315,2858,1508,275,265],"class_list":["post-34397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-lightstone","tag-property","tag-south-africa-2","tag-soweto"],"yoast_head":"\nOnly 10 homes in Soweto sold for more than R3 million, data shows - South Africa<\/title>\n<meta name=\"description\" content=\"Only 10 of the 183 525 registered homes in Soweto, Johannesburg, have reached a sale price of more than R3 million, acco ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Only 10 homes in Soweto sold for more than R3 million, data shows\" \/>\n<meta property=\"og:description\" content=\"Only 10 of the 183 525 registered homes in Soweto, Johannesburg, have reached a sale price of more than R3 million, acco ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-27T18:29:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-27T19:16:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/07\/postQueueImg_64-62e18f1202048.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Only 10 homes in Soweto sold for more than R3 million, data shows\",\"datePublished\":\"2022-07-27T18:29:29+00:00\",\"dateModified\":\"2022-07-27T19:16:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\"},\"wordCount\":229,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/07\/postQueueImg_64-62e18f1202048.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"lightstone\",\"property\",\"South-Africa\",\"Soweto\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/only-10-homes-in-soweto-sold-for-more-than-r3-million-data-shows\",\"name\":\"Only 10 homes in Soweto sold for more than R3 million, data shows - 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