Buyers flock to Cosmo City
Category Lifestyle
The thriving Cosmo City boasts being a multi-class and multiracial area with top-notch amenities available for residents. While major areas in the rest of South Africa has seen a decline in property investment, buyers flock to Cosmo City as property in the area is soaring.
One of the major reasons why residents prefer Cosmo City is the convenience its location offers. Positioned between the three main roads, Malibongwe (Hans Strijdom), DF Malan, and Northumberland, Cosmo City provides the ideal central suburban lifestyle for professionals working out in the busy hubs of Gauteng.
Lindiwe Mabena, co-Franchisee and sales agent at RealNet Cosmo reveals: "Cosmo City is conveniently situated very close to Johannesburg North. The rental market is very attractive to investors. You can get a great return on your investment in a short period of time as many buyers build on their property or lease out their houses."
Buyers in Cosmo City are finding greater returns on property valued under a million Rands. "Property in Cosmo City sell from R550 000 for a 2-bedroom, from R650 000 for a 3-bedroom, from R700 000 for a 3-bedroom with 2-baths and up to R1 000 000 - depending on the extras included in the property," adds Mabena. Many investors in Cosmo City are staying in the area and simply buying bigger properties. Records show that 57.9% of recent buyers are aged between 36 - 49 while 44.4% of the same age are also recent sellers.
The area comprises of 1 200 hectares with about 15% of the area (50 hectares) allocated for parks. Cosmo City further offers investors the option to purchase plots of vacant land which have the potential to become high-demanded buildings, such as a church, guesthouses or cottages.
The first batch of residents made Cosmo City their home in November 2005 and since then tons of progress has been made with regards to developing the suburb. Residents have access to running water, pre-paid electricity and solar water geysers in some homes.
No stone was left unturned when it came to providing the residents of Cosmo City with state-of-the-art facilities. Cosmo City incorporates the implementation of the full range of municipal services and social facilities. As a result, home buyers are attracted to the ease and convenience of having 12 schools, three shopping malls, health facilities, police stations, a community centre with a hall, 43 parks and recreational areas, a library, a cemetery and several churches in Cosmo City. Residents are kept informed about the area via The Cosmo City Chronicle - a bi-monthly community newspaper distributed free of charge to every home in Cosmo City.
The popular Cosmo Mall which is beneficially located on Malibongwe and South Africa drive not only serve as a safe shopping environment for the whole family but also as an employment hub for the residents of Cosmo City. Residents of Cosmo City have the option to work close by at the mall in retail stores, entertainment facilities, banks, and service jobs. Along with free parking for shoppers and workers, the mall also provides a taxi rank for commuters. To ensure that residents are safe when walking to the mall, developers have catered for a bridge to cross over the Malibongwe highway.
Cosmo City is a thriving suburb with immense potential for investments. Whether you are searching for an investment or your new home, secure your next property in this great area today. Contact RealNet Cosmo and we will assist you in finding the perfect spot in this friendly destination.
Author: RealNet
