Authored by the expert who managed and guided the team behind the South Africa Property Pack
Yes, the analysis of Johannesburg's property market is included in our pack
As of September 2025, Johannesburg's property market shows strong value opportunities with average prices per square meter ranging from ZAR 10,100 for houses to ZAR 15,000 for apartments. The Johannesburg residential market offers some of South Africa's most affordable property investments while maintaining solid rental yields between 9-10%.
If you want to go deeper, you can check our pack of documents related to the real estate market in Johannesburg, based on reliable facts and data, not opinions or rumors.
Johannesburg property prices average ZAR 10,100-15,000 per square meter, with apartments commanding higher rates than houses.
The city offers excellent investment value with 9-10% rental yields and prices well below Cape Town and international markets.
| Property Type | Average Price per sqm (ZAR) | Best Investment Areas |
|---|---|---|
| Apartments | 15,000 (up to 25,000 luxury) | Sandton, Rosebank, Midrand |
| Houses | 10,100-11,000 | Fourways, Bryanston, Parkhurst |
| Townhouses | 10,500-12,000 | Midrand, Randburg, Bedfordview |
| Luxury Properties | 25,000-33,000 | Houghton, Sandton, Bryanston |
| Budget Options | 6,000-9,500 | Soweto, Roodepoort, Eldorado Park |
| Up-and-Coming | 15,000-20,000 | Maboneng, Braamfontein, Fourways |
What's the current average price per square meter in Johannesburg?
As of September 2025, Johannesburg's average property price per square meter varies significantly by property type.
Apartments command the highest prices at ZAR 15,000 per square meter on average, with luxury developments in premium areas like Sandton reaching up to ZAR 25,000 per square meter. Small units such as studios and one-bedroom apartments often fetch even higher rates, up to ZAR 26,700 per square meter due to strong demand from young professionals and investors.
Houses offer better value per square meter, averaging ZAR 10,100 to ZAR 11,000 throughout the Johannesburg residential market. A typical family home of 140-160 square meters sells for around ZAR 1.5 million, making standalone houses more affordable per square meter than apartments.
Townhouses fall in the middle range at ZAR 10,500 to ZAR 12,000 per square meter. These properties provide more space than apartments while offering better security than standalone houses, making them popular with families seeking value in the Johannesburg property market.
How does the average price differ between houses, apartments, and townhouses?
The Johannesburg property market shows clear price distinctions between different property types.
Apartments consistently command the highest prices per square meter because of their prime locations in business districts like Sandton and Rosebank. The compact nature of apartment living means developers can charge premium rates for well-located units. Security features, shared amenities, and proximity to transport hubs justify the higher cost per square meter in the Johannesburg apartment market.
Houses offer the most space for your money, typically providing larger living areas, private gardens, and parking. The lower price per square meter reflects the fact that you're buying more land and space. Family homes in suburbs like Fourways and Bryanston provide excellent value when calculated per square meter.
Townhouses bridge the gap between apartments and houses, offering security features similar to apartment complexes while providing more space than typical apartments. The moderate pricing reflects this balance between security, space, and location in Johannesburg's competitive property market.
It's something we develop in our South Africa property pack.
What are the most expensive neighborhoods, the up-and-coming ones, and the more budget-friendly areas?
Johannesburg's property market divides into distinct price categories based on location and development status.
| Area Category | Suburb Examples | Price Range (ZAR/sqm) |
|---|---|---|
| Most Expensive | Sandton, Houghton, Rosebank | 25,000-33,000 |
| Established Premium | Bryanston, Bedfordview | 20,000-25,000 |
| Up-and-Coming | Fourways, Midrand, Maboneng | 15,000-23,000 |
| Mid-Range Stable | Randburg, Parkhurst | 12,000-18,000 |
| Budget-Friendly | Soweto, Roodepoort | 6,000-9,500 |
| Investment Opportunity | CBD, Braamfontein | 12,000-16,000 |
The most expensive areas center around Sandton's business district, where properties command ZAR 25,000 to ZAR 30,000 per square meter. Houghton remains Johannesburg's most prestigious residential area with heritage homes reaching ZAR 33,000 per square meter.
Up-and-coming neighborhoods like Fourways show rapid development with new shopping centers and improved infrastructure. Midrand benefits from its position between Johannesburg and Pretoria, attracting young professionals and families. Maboneng and Braamfontein represent urban renewal success stories in the Johannesburg property market.
Budget-friendly areas like Soweto offer the best entry-level opportunities, with properties averaging ZAR 6,000 to ZAR 8,000 per square meter. These areas provide affordable homeownership options while maintaining good public transport links to central Johannesburg.
How do prices vary depending on the size of the property, like small apartments versus large family homes?
Property size significantly affects price per square meter in the Johannesburg real estate market.
Small apartments and studios command premium rates per square meter, often reaching ZAR 20,000 to ZAR 26,700 in sought-after areas. The compact size makes each square meter more valuable, particularly in high-demand locations like Sandton and Rosebank where space is at a premium.
Medium-sized apartments (two to three bedrooms) typically price between ZAR 15,000 to ZAR 20,000 per square meter. These units offer better value per square meter than studios while maintaining the security and location benefits that drive apartment demand in Johannesburg.
Large family homes show the most variation in price per square meter, ranging from ZAR 8,000 in suburban areas to ZAR 15,000 in premium locations. The larger the home, the more the land component affects the overall value calculation. Family homes in established suburbs like Bryanston or Fourways typically offer more space per rand invested.
Luxury properties bucking this trend can command high prices regardless of size, particularly in prestigious areas where the location premium justifies higher per-square-meter costs throughout the Johannesburg luxury property market.
What are some concrete example purchase prices for typical properties in different areas?
Real property examples from September 2025 demonstrate the range of investment opportunities across Johannesburg.
In Sandton's premium apartment market, a modern 70-square-meter unit costs approximately ZAR 1.8 million, calculating to ZAR 25,700 per square meter. These apartments typically feature high-end finishes, security, and proximity to business districts.
Bryanston townhouses represent solid family investments, with a typical 150-square-meter unit selling for ZAR 3.5 million (ZAR 23,300 per square meter). These properties offer private gardens, double garages, and access to good schools in the area.
Midrand starter homes provide excellent entry-level opportunities, with 80-square-meter properties averaging ZAR 990,000 (ZAR 12,400 per square meter). These homes appeal to first-time buyers and young families seeking affordable homeownership.
Soweto properties offer the most affordable options, with 140-square-meter family homes selling for around ZAR 800,000 (ZAR 5,700 per square meter). These properties provide substantial space for families on limited budgets while maintaining good transport links to central Johannesburg.
What is the total cost of buying a property once you include fees, taxes, and transfer costs?
Property purchase costs in South Africa extend beyond the asking price to include various fees and taxes.
For properties under ZAR 1 million, buyers pay no transfer duty, making these purchases particularly attractive. However, conveyancing fees still apply, typically costing around ZAR 29,176 for a ZAR 1 million property transaction.
Additional mandatory costs include Deeds Office fees (approximately ZAR 1,464), postage and petties (ZAR 1,150), and various clearance certificates (ZAR 690). Miscellaneous costs for inspections and legal requirements add roughly ZAR 1,600 to the total.
For a ZAR 1 million property purchase, expect total additional costs of approximately ZAR 34,000 beyond the purchase price. Properties above ZAR 1 million trigger transfer duty calculations that increase these costs significantly.
New developments carry Value Added Tax (VAT) at 15.5% as of September 2025, increasing to 16% in April 2026. This substantial additional cost makes new developments more expensive than established properties in the Johannesburg property market.
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What would monthly costs look like with a mortgage included?
Monthly property ownership costs in Johannesburg combine mortgage payments with ongoing expenses.
The South African Reserve Bank's prime lending rate sits around 11% as of September 2025, directly affecting mortgage interest rates. Most home loans require a 10% deposit, with the remaining 90% financed over 20-year terms.
For a ZAR 1.5 million property with a 10% deposit, monthly mortgage payments typically range from ZAR 15,000 to ZAR 16,000. This calculation assumes an 11% interest rate and standard 20-year loan term common in the South African mortgage market.
Additional monthly costs include utilities averaging ZAR 2,148 for a two-bedroom property, covering electricity, water, and basic municipal services. Security costs, maintenance, and insurance add approximately ZAR 1,500 to ZAR 2,500 monthly depending on property type and location.
Total monthly ownership costs for a ZAR 1.5 million property typically range from ZAR 18,500 to ZAR 21,000, including mortgage, utilities, and essential services. These costs vary based on property size, location, and individual consumption patterns across Johannesburg.
How have property prices in Johannesburg changed compared to one year ago and compared to five years ago?
Johannesburg property prices show modest recovery after years of stagnation in the local real estate market.
Compared to September 2024, Johannesburg property prices increased by approximately 3-5%, marking the first sustained growth period in several years. This growth reflects improved economic conditions and renewed investor confidence in the Johannesburg residential market.
The five-year comparison reveals minimal overall price appreciation, with properties averaging around ZAR 1.3 million in 2020 compared to ZAR 1.5 million in 2025. This represents cumulative growth of roughly 15% over five years, significantly below inflation rates during the same period.
The Johannesburg property market experienced particular weakness between 2019 and 2023, with prices remaining essentially flat or declining in some areas. Economic uncertainty, load-shedding concerns, and security issues contributed to buyer hesitation during this period.
Current market conditions suggest the worst decline period has ended, with early 2025 showing renewed activity from both local and international investors seeking value opportunities in the Johannesburg property market.
What are the price forecasts for one year, five years, and ten years from now?
Property price forecasts for Johannesburg show cautious optimism based on current market indicators.
One-year forecasts predict modest growth of 3-5% through September 2026, driven by improved power stability and renewed investor confidence. The Johannesburg residential market should benefit from increased economic activity and infrastructure improvements planned for the city.
Five-year projections estimate cumulative growth of 10-20% from current levels, assuming continued political stability and infrastructure development. Urban renewal projects in areas like Braamfontein and Maboneng should drive localised price appreciation above market averages.
Ten-year forecasts suggest potential growth of 25-35% from 2025 levels, contingent on successful crime reduction initiatives and sustained economic growth. The Johannesburg property market's long-term success depends heavily on addressing security concerns and maintaining reliable electricity supply.
These forecasts assume continued urbanization trends and population growth in the greater Johannesburg metropolitan area. Infrastructure improvements and business district expansion should support sustained property value appreciation over the forecast period.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in South Africa versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the smartest investment choices right now if you want to live there, rent out short term, rent out long term, or buy to resell later?
Investment strategy in Johannesburg depends on your specific goals and risk tolerance.
For personal residence, secure estates in Fourways, Bryanston, and Parkhurst offer the best combination of safety, schools, and capital appreciation potential. These areas provide family-friendly environments with good infrastructure and established communities that support long-term value growth.
Short-term rental investments perform best in trendy areas like Rosebank, Maboneng, and Braamfontein where business travelers and tourists prefer to stay. These locations offer strong Airbnb demand and premium nightly rates, particularly properties with modern amenities and easy access to business districts.
Long-term rental properties generate optimal returns in Midrand, Randburg, and Sandton, where professional tenants seek quality accommodation. Townhouses and apartments in secure complexes command rental yields of 9-10% while attracting stable, long-term tenants who value security and location.
Buy-to-flip opportunities exist in urban renewal areas including the CBD, Braamfontein, and emerging suburbs like Linden and Melville. These areas offer properties below market value that can benefit from renovation and the ongoing gentrification trend in central Johannesburg.
It's something we develop in our South Africa property pack.
How do Johannesburg's property prices compare with other large cities in South Africa and internationally?
Johannesburg offers exceptional value compared to other major South African cities and international markets.
| City | Average Price per sqm | Annual Growth Rate |
|---|---|---|
| Johannesburg | ZAR 13,000-15,000 | 2-4% |
| Cape Town | ZAR 29,000-33,000 | 3-7% |
| Durban | ZAR 14,000-20,000 | 5-10% |
| Pretoria | ZAR 11,000-16,000 | 3-5% |
| London (comparison) | ZAR 180,000+ | 1-3% |
| Sydney (comparison) | ZAR 120,000+ | 2-5% |
Cape Town commands significantly higher prices, with properties costing nearly double Johannesburg rates due to tourism appeal and scenic location. However, Johannesburg offers better rental yields and more diverse economic opportunities for property investors.
Durban's coastal properties show strong growth, particularly along the North Coast, but lack Johannesburg's business district concentration. Pretoria offers similar pricing to Johannesburg but with a smaller rental market and fewer amenities.
Internationally, South African property remains among the world's most affordable in developed markets. Johannesburg properties cost a fraction of London, Sydney, or New York prices while offering similar or better rental yields, making the city attractive to international property investors.
Based on today's market, what are the best options for someone deciding between living, investing, or flipping properties?
Current market conditions in Johannesburg favor different strategies depending on your goals and timeline.
For living, prioritize security and infrastructure in areas like Bryanston, Fourways, and Parkhurst where good schools and amenities support family life. These neighborhoods offer stability and gradual appreciation while providing excellent quality of life in the Johannesburg residential market.
Investment properties should focus on high-yield opportunities in Sandton, Rosebank, and Midrand where rental demand remains strong. Secure complexes with professional management attract quality tenants and generate consistent returns of 9-10% annually in the current market.
Property flipping requires targeting urban renewal zones where gentrification creates value opportunities. Areas like Maboneng, Braamfontein, and parts of the CBD offer properties below replacement cost that benefit from renovation and area improvement projects.
Budget-conscious buyers should consider outlying suburbs like Soweto, Roodepoort, and Eldorado Park where first-time buyers can access homeownership while building equity. These areas provide substantial space for money invested while maintaining transport links to central business areas.
It's something we develop in our South Africa property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Johannesburg presents an excellent opportunity for property investors seeking value and high rental yields in the South African market.
With prices significantly below Cape Town and international levels, the city offers diverse investment options from budget-friendly starter homes to luxury developments in prestigious areas.
Sources
- Properstar South Africa House Prices
- The African Investor - Johannesburg Average Apartment Prices
- The African Investor - Average House Price in Johannesburg
- The African Investor - Average House Price South Africa
- The African Investor - Best Areas to Buy Property in Johannesburg
- Ooba - Affordable Suburbs Johannesburg
- Wisemove - Cost of Living in Johannesburg
- NMA Law - 2025 Budget Impact on Property Transfer Costs
- Cape Town Lawyer - Costs of Transfer
- Everything Property - FNB Residential Property Report