Apr
2022
Richmond Hill in Port Elizabeth is almost in the CBD of the town. This means there may be a lot more apartment buildings than freehold homes. This would establish a sales curve that shows a steady growth rate as apartments are the core of suburbs like Richmond Hill. The suburb would also attract or be appealing to the middle-class income groups. The property use is also mixed with commercial properties that influence the general value of properties.
Young single professionals, pensioners, and small families have a vast pool of sectional-title apartments and townhouses to choose from. Using these properties as a stepping stone buyers may choose to upgrade to larger freehold homes as their families grow or their financial status increases. The other benefit of residing in the suburb is its central location in relation to commercial and industrial precincts.
Buyers in the holiday property market also find good value for money in the sectional-title segment and the suburb is close to the beaches and ocean which is a profit-generating tourist attraction. The rental market for investors yields stable monthly rental income and the value of their investments grow steadily too.
Freehold homes in the suburb are interesting with a lot of period homes that have been renovated and in time these properties add value to the suburb. One can see the British settlers' influence on the character of older homes which in itself adds charm to the suburb.
Being an established suburb means all the infrastructure is established, The suburb has access to a lot of day-care centers, schools, and malls. Schools near to the suburb are Port Elizabeth College, Khumbulani High School, St Augustine’s Primary School, The Hill College, and Greenwood Primary School.
Retail malls near the suburb are Greenacres Shopping Centre, Stanford Crossing and Pier 14 Shopping Centre.
