Construction on a 20-storey luxury apartment, Park Central in Rosebank, is well underway, according to Pam Golding, with the development expected to be completed by May 2019.

The development comprises 159 units, ranging between 32 square metres for a studio apartment (starting at R1.97 million) and 380 square metres for a penthouse suite – priced at R19.6 million.

“Park Central is totally unique and not just another block of apartments. “Its design and architecture sets it apart from others with features such as trees and sky gardens on selected levels as well as a roof top swimming pool and sun deck,” said Peet Strauss, development manager for Pam Golding Properties in Johannesburg.

The apartments offer 24 hour state-of-the-art security, basement parking, fibre-to-home, gym, storage units and gourmet kitchen facilities.

Apartments include air conditioning and integrated Smeg appliances, with high-end finishes throughout, Pam Golding said.

The building itself is located 950 metres from the Rosebank Gautrain Station, within walking distance of Rosebank Mall.

“The vast majority of housing stock in Rosebank is sectional title with no properties located within estates,” said Sandra Gordon, research and market analyst at Pam Golding.

“Despite a slight easing in sectional title prices in recent years, apartment prices have outperformed freehold prices by a significant margin.”

For the past 10 years, sectional title prices have outperformed freehold homes in Rosebank, having grown +153.7% between 2008 and 2018 (+84.8% for freehold) and +57.4% from 2013 to 2018 compared to +55.5% growth for freehold in the same period.

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