The growing demand in and around Rosebank is largely attributable to the changed image of the area. With corporates such as Standard Bank increasingly investing in the precinct and upgrades to area landmarks such as the Rosebank Mall, The Zone and Netcare Rosebank Hospital, perceptions have changed radically. So much so, that Rosebank is becoming one of Johannesburg's most desirable areas.
The Gautrain has boosted development in the area with Rosebank now perfectly positioned as a mixed-use, 'chic and hip' suburb. Tree-lined and vibrant with a rich, cosmopolitan culture, the precinct is pedestrian-friendly while designed to maximise access to public transport. Rosebank has become increasingly popular among the younger set for its inner-city lifestyle. This newfound appeal has resulted in the creation of a new market segment.
In addition, the close proximity of Rosebank to Johannesburg and Sandton has long been an important selling point. OR Tambo International is only 35 minutes away by road and is also easily accessed via the Gautrain, as is Pretoria. Excellent schools including St Theresa's Convent, Kingsmead and Rosebank Primary and ample shopping and entertainment offered by Rosebank Mall and the Zone, completes the picture of a vibrant, fast-paced environment.
Commercial property development has been particularly buoyant following the opening of the Gautrain Station in 2011, with close on R7 billion being spent on the development of new buildings and the refurbishment of several existing buildings. The residential property market however has been more subdued because of the shortage of available land for development in Rosebank. This has created a considerable demand for residential property in the area.
For the first time in many years a few exclusive, new residential developments are starting to come onto the market. One such luxurious development is The Caversham, which consists of 13 two- and three-bedroomed apartments on Sturdee Avenue. This brand new development is being launched on 30 March 2014. Another is Forty4 on Keyes, which comprises 16 chic two-bedroom simplex and duplex apartments.
Rosebank is really coming into its own, with many up-and-coming young professionals and families purchasing properties in the suburb. It is cosmopolitan and vibrant, and the area is enjoying resurgence. For those who want to be close to where the action is, Rosebank is the place to be.
