Today's Big Stories

Would you buy a house in Soweto for R3 million?

While townships are still primarily considered to be areas of low-cost housing and government-provided housing, some suburbs within these areas were starting to resemble the rest of the South African property market.

Soweto houses fetch as much as R3 million. This as the property market in South Africa's biggest township is booming and Real Estate giants want a piece of the pie.

Stephen Grootes spoke to Huiswerk Properties' Property agent, Ike Abrahams who says that with growing interest in Soweto, the real estate market is set to become more competitive. The historic township is attracting buyers of cross income groups. Soweto has the best of both worlds.

Abrahams does mention though that there property owners must be realistic when pricing, adding that he doesn't believe that the property priced at R3 million in Soweto will be bought for that much.

Listen below for the full interview:

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