Thursday, June 01, 2006
Johannesburg’s rich buy flats for their domestic workers
Johannesburg’s rich are starting to buy flats for their domestic workers so that they can live close to work. Business Day quotes property economist Francois Viruly who says this new trend is taking off, and is particularly evident along Louis Botha Avenue, Hillbrow and areas on the fringe of the inner city. He says it also works as an investment for the owner because of the potential for capital growth. It appears to be a Johannesburg trend and is not yet noticeable in Cape Town or Durban.
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