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
If you're a foreigner thinking about buying an apartment in Johannesburg, you're probably wondering what it actually costs, not just the listing price, but everything that goes with it.
This guide breaks down real apartment prices, closing costs, monthly expenses, and neighborhood differences so you can plan your budget with confidence.
We constantly update this blog post to reflect the latest data and market conditions in Johannesburg.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Johannesburg.
Insights
- Foreign buyers in Johannesburg typically need a 50% deposit because South African banks limit mortgage financing for non-residents to around half the property value.
- Transfer duty in Johannesburg can be zero if you buy under the threshold, but jumps quickly once you cross it, so price positioning matters more than most buyers realize.
- The price gap between Johannesburg's cheapest areas like Hillbrow at R8,000 per square meter and premium nodes like Sandton at R30,000 per square meter is nearly four times.
- New-build apartments in Johannesburg carry about a 15% price premium per square meter, but often include VAT with no transfer duty, which can close the gap with resales.
- Monthly levies in Johannesburg vary dramatically from R1,200 for basic older buildings to over R9,000 for premium complexes with generators, security, and concierge services.
- Johannesburg property tax uses a rate of 0.009545 applied after a R300,000 exemption, meaning a R1.5 million apartment costs roughly R11,500 per year in municipal rates.
- Closing costs for apartment buyers in Johannesburg range from 4% to 7% for cash purchases and 7% to 11% when financing with a mortgage.
- Electricity is the largest utility expense for Johannesburg apartment owners, often running between R900 and R1,800 per month depending on appliances and heating.
- Budget-friendly neighborhoods like Randburg and Roodepoort offer apartments at R12,000 to R18,000 per square meter while still providing reasonable resale liquidity.
How much do apartments really cost in Johannesburg in 2026?
What's the average and median apartment price in Johannesburg in 2026?
As of January 2026, the median apartment price in Johannesburg sits around R1.2 million (about $65,000 or €60,000), while the average reaches approximately R1.45 million ($78,000 or €72,500) because premium areas like Sandton and Rosebank pull the numbers up.
When you look at price per square meter, Johannesburg apartments typically fall between R15,000 and R17,000 per square meter, which translates to roughly $810 to $920 per square meter or €750 to €850 per square meter.
Most standard apartments in Johannesburg fall within the R750,000 to R2.2 million range ($40,500 to $119,000 or €37,500 to €110,000), covering everything from entry-level one-bedrooms to comfortable two-bedroom units in decent neighborhoods.
How much is a studio apartment in Johannesburg in 2026?
As of January 2026, a typical studio apartment in Johannesburg costs around R600,000 ($32,500 or €30,000), making it the most accessible entry point for buyers on a tighter budget.
Entry-level to mid-range studios in Johannesburg generally fall between R450,000 and R650,000 ($24,000 to $35,000 or €22,500 to €32,500), while high-end or luxury studios in premium buildings can reach R850,000 ($46,000 or €42,500) or slightly more.
Studio apartments in Johannesburg typically measure between 30 and 40 square meters, which explains why the price per square meter often runs slightly higher than larger units even though the total price stays lower.
How much is a one-bedroom apartment in Johannesburg in 2026?
As of January 2026, a typical one-bedroom apartment in Johannesburg costs around R950,000 ($51,000 or €47,500), reflecting strong demand from young professionals and investors in popular nodes.
Entry-level to mid-range one-bedroom apartments generally price between R750,000 and R1.1 million ($40,500 to $59,500 or €37,500 to €55,000), while high-end one-bedrooms in areas like Rosebank or Sandton can reach R1.35 million ($73,000 or €67,500) or higher.
One-bedroom apartments in Johannesburg typically range from 45 to 60 square meters, with the wide price variation reflecting both location differences and whether the building offers premium amenities like backup power and security.
How much is a two-bedroom apartment in Johannesburg in 2026?
As of January 2026, a typical two-bedroom apartment in Johannesburg costs around R1.45 million ($78,000 or €72,500), representing the most common size for small families and couples wanting extra space.
Entry-level to mid-range two-bedroom apartments generally fall between R1.1 million and R1.6 million ($59,500 to $86,500 or €55,000 to €80,000), while high-end two-bedrooms in top neighborhoods like Sandton or Melrose can reach R2.2 million ($119,000 or €110,000) or more.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Johannesburg.
How much is a three-bedroom apartment in Johannesburg in 2026?
As of January 2026, a typical three-bedroom apartment in Johannesburg costs around R2.2 million ($119,000 or €110,000), though this segment varies significantly because many are either older large units or premium developments.
Entry-level to mid-range three-bedroom apartments generally price between R1.6 million and R2.5 million ($86,500 to $135,000 or €80,000 to €125,000), while high-end three-bedrooms with premium finishes in top areas can reach R3.8 million ($205,000 or €190,000) or beyond.
Three-bedroom apartments in Johannesburg typically measure between 110 and 140 square meters, with some older units offering even more space including staff quarters, which explains the wider price variation compared to smaller apartments.
What's the price gap between new and resale apartments in Johannesburg in 2026?
As of January 2026, new-build apartments in Johannesburg carry approximately a 15% price premium per square meter compared to similar resale units in the same neighborhood, though the tax treatment can significantly affect your actual costs.
New-build apartments in Johannesburg typically price around R17,000 to R20,000 per square meter ($920 to $1,080 or €850 to €1,000 per square meter), with developers pricing in security features, backup power systems, and modern amenities that buyers value highly.
Resale apartments in Johannesburg generally trade at R14,000 to R17,000 per square meter ($755 to $920 or €700 to €850 per square meter), but remember that many new builds include VAT with no transfer duty while resales trigger transfer duty above the threshold, which can narrow the effective price gap.
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Can I afford to buy in Johannesburg in 2026?
What's the typical total budget (all-in) to buy an apartment in Johannesburg in 2026?
As of January 2026, buying a typical Johannesburg apartment at the median price of R1.2 million requires an all-in budget of approximately R1.25 million to R1.33 million ($67,500 to $72,000 or €62,500 to €66,500) depending on whether you pay cash or use mortgage financing.
Beyond the purchase price, your all-in budget in Johannesburg needs to cover transfer duty to SARS, conveyancing and transfer attorney fees, deeds office disbursements, municipal clearance costs, and if you're financing, bond registration fees plus bank administration charges.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Johannesburg property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Johannesburg.
What down payment is typical to buy in Johannesburg in 2026?
As of January 2026, foreign buyers purchasing an apartment in Johannesburg typically need a down payment of around 50% of the purchase price, which means approximately R600,000 ($32,500 or €30,000) for a median-priced apartment at R1.2 million.
Most South African banks limit mortgage financing for non-residents to around 50% of the property value, making this deposit requirement effectively a standard rather than an exception for foreign buyers in Johannesburg.
To secure favorable mortgage terms and demonstrate strong financial positioning, foreign buyers should ideally prepare even more than 50% if possible, since banks also want clear documentation showing how the funds were introduced into South Africa through proper exchange-control channels.
You can also read our latest update about mortgage and interest rates in South Africa.
We made this infographic to show you how property prices in South Africa compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Johannesburg in 2026?
How much does the price per m² for apartments vary by neighborhood in Johannesburg in 2026?
As of January 2026, apartment prices per square meter in Johannesburg vary dramatically from around R8,000 ($430 or €400) in the most affordable areas to over R30,000 ($1,620 or €1,500) per square meter in premium nodes, representing nearly a fourfold difference.
The most affordable neighborhoods in Johannesburg for apartment buyers include Hillbrow, Berea, Yeoville, and parts of the Johannesburg CBD, where prices typically range from R8,000 to R12,000 per square meter ($430 to $650 or €400 to €600 per square meter).
The most expensive neighborhoods in Johannesburg are concentrated in the northern suburbs, particularly Sandton areas like Morningside, Bryanston, and Sandown, plus Rosebank, Melrose, and Houghton, where prices range from R18,000 to R30,000 or more per square meter ($970 to $1,620 or €900 to €1,500 per square meter).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Johannesburg.
What neighborhoods are best for first-time buyers on a budget in Johannesburg in 2026?
As of January 2026, the top three neighborhoods for budget-conscious first-time apartment buyers in Johannesburg are Randburg-side areas like Ferndale and Bordeaux, Roodepoort pockets such as Wilro Park and Weltevreden Park, and northwest fringe areas around Northgate and Olivedale.
In these budget-friendly Johannesburg neighborhoods, typical apartment prices range from R600,000 to R1.2 million ($32,500 to $65,000 or €30,000 to €60,000), offering significantly more space per rand compared to premium areas like Sandton.
These neighborhoods offer first-time buyers in Johannesburg reasonable access to shopping centers, highways, and essential services, plus a good supply of sectional title stock that keeps entry prices manageable while maintaining decent resale liquidity.
The main trade-off when buying in these budget-friendly Johannesburg neighborhoods is that you may encounter older buildings with higher maintenance needs, potentially weaker security infrastructure, and longer commutes to major employment hubs compared to more central locations.
Which neighborhoods have the fastest-rising apartment prices in Johannesburg in 2026?
As of January 2026, the neighborhoods with the fastest-rising apartment prices in Johannesburg are Rosebank and its surrounding areas like Dunkeld and Illovo, key Sandton nodes near employment clusters, and Fourways-Lonehill-Douglasdale where family demand meets ongoing densification.
These fast-appreciating Johannesburg neighborhoods have seen price growth outpacing the broader market by an estimated 3 to 8 percentage points annually, though exact figures vary significantly by building and micro-location within each area.
The main driver behind rapid price growth in these Johannesburg neighborhoods is the premium buyers place on security, lifestyle amenities, reliable backup power systems, and proximity to major employment centers, all of which have become even more valued as service delivery concerns persist.
You can also read our latest update about property price forecasts in Johannesburg.
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What extra costs will I pay on top of the apartment price in Johannesburg in 2026?
What are all the buyer closing costs when you buy an apartment in Johannesburg?
For a typical apartment purchase in Johannesburg at R1.2 million, total buyer closing costs range from approximately R50,000 to R145,000 ($2,700 to $7,800 or €2,500 to €7,250), depending on whether you pay cash or finance the purchase.
The main categories of closing costs for apartment buyers in Johannesburg include transfer duty payable to SARS, transfer attorney and conveyancing fees, deeds office registration and disbursements, municipal clearance charges, and for mortgage buyers, bond registration attorney fees plus bank initiation costs.
Transfer duty is typically the largest closing cost for Johannesburg apartment buyers once you cross the tax-free threshold, though conveyancing fees can also represent a significant portion of your total closing expenses.
Some closing costs in Johannesburg are negotiable, particularly conveyancing fees which are guided by LSSA schedules but not fixed by law, so it's worth getting quotes from multiple transfer attorneys before committing.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Johannesburg?
For apartment buyers in Johannesburg, you should budget approximately 5 to 8% of the purchase price for closing costs as a practical starting point, adjusting upward if you're using mortgage financing.
The realistic range for Johannesburg apartment closing costs spans from about 4 to 7% for cash purchases to 7 to 11% for buyers using mortgage financing, with the wide range reflecting how transfer duty scales progressively with price.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Johannesburg.
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 ongoing monthly and yearly costs of an apartment in Johannesburg in 2026?
What are typical HOA fees in Johannesburg right now?
In Johannesburg, apartments are typically sectional title properties, which means you pay monthly levies to the body corporate that typically range from R1,200 to R9,000 or more ($65 to $485 or €60 to €450) depending on building amenities and location.
Basic older complexes in Johannesburg charge levies around R1,200 to R2,500 per month ($65 to $135 or €60 to €125), mid-market security complexes run R2,500 to R4,500 per month ($135 to $245 or €125 to €225), while premium buildings with lifts, concierge, generators, pools, and high security can reach R4,500 to R9,000 or more monthly ($245 to $485+ or €225 to €450+).
What utilities should I budget monthly in Johannesburg right now?
For a typical apartment in Johannesburg, you should budget approximately R1,500 to R3,400 per month ($80 to $185 or €75 to €170) for utilities, excluding your body corporate levies which are paid separately.
Depending on your apartment size and consumption habits in Johannesburg, monthly utility costs can range from about R1,500 on the lower end for a small, efficient unit to R3,400 or more for larger apartments with higher electricity usage.
Your typical monthly utility budget in Johannesburg needs to cover electricity, water and sanitation charges, and refuse or municipal services if these are billed separately from your levies.
Electricity tends to be the most expensive utility for Johannesburg apartment owners, often running between R900 and R1,800 per month depending on whether you use heavy appliances or electric heating, especially during winter months.
How much is property tax on apartments in Johannesburg?
For a typical Johannesburg apartment valued around R1.5 million, annual property tax (called municipal rates) costs approximately R11,500 per year ($620 or €575), which works out to about R955 monthly.
Johannesburg property tax is calculated by applying a residential rate of 0.009545 rand-in-the-rand to your property's municipal valuation after subtracting a R300,000 residential exemption, so the formula is: (Municipal value minus R300,000) multiplied by 0.009545.
For Johannesburg apartments, annual property tax typically ranges from about R4,300 per year ($230 or €215) for a R750,000 unit to around R19,000 per year ($1,025 or €950) for a R2.3 million property, scaling proportionally with value above the exemption threshold.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Johannesburg.
What's the yearly building maintenance cost in Johannesburg?
For apartment owners in Johannesburg, yearly maintenance costs for inside your unit typically run about R7,500 to R15,000 ($405 to $810 or €375 to €750) for a R1.5 million property, following a rule of thumb of 0.5% to 1% of apartment value annually.
This maintenance budget can range from around R5,000 per year for newer buildings in good condition to R20,000 or more for older apartments requiring more frequent repairs, appliance replacements, or interior refreshes.
Your inside-unit maintenance budget in Johannesburg should cover painting, appliance repairs and replacements, minor plumbing and electrical fixes, and general wear-and-tear items that are your responsibility as the unit owner.
In Johannesburg sectional title apartments, building maintenance is split between what's covered by your levies (common areas, building structure, reserve fund contributions) and what you pay separately for your own unit's interior, so these costs are additional to your monthly levy payments.
How much does home insurance cost in Johannesburg?
For apartments in Johannesburg, contents insurance (covering your belongings) typically costs between R200 and R600 per month ($11 to $32 or €10 to €30), with variation based on coverage amount, building security level, and your claims history.
Annual contents insurance costs for Johannesburg apartments typically range from about R2,400 ($130 or €120) for basic coverage to R7,200 ($390 or €360) or more for comprehensive policies with higher coverage limits and additional portable possessions protection.
For Johannesburg apartment owners, building structure insurance is typically arranged by the body corporate and funded through your levies, so you're indirectly covered, but contents insurance for your belongings and personal items is your responsibility and strongly recommended even though not legally mandatory.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Johannesburg, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| SARS Transfer Duty | SARS is South Africa's official tax authority with legally binding rates. | We used the 2025/26 transfer duty table to calculate costs at common apartment price points. We also explained why some buyers pay zero duty while others pay significantly more. |
| SARS Rate Change Announcement | This is SARS' official announcement confirming current rate effective dates. | We used it to confirm the 2025/26 rates apply in early 2026. We cross-checked against the main SARS rates page for consistency. |
| City of Johannesburg Tariff Determination | This is the City's published tariff document underlying your municipal bill. | We extracted the residential rates-in-the-rand and R300,000 rebate. We turned this into practical property tax estimates for typical apartments. |
| City of Johannesburg Consolidated Tariffs | These are the City's official utility and service charges for the financial year. | We used it to ground the utility budgeting section with FY2025/26 tariff structures. We converted tariff logic into practical monthly budget ranges. |
| LSSA Conveyancing Fee Guidelines | LSSA guidelines are the most widely referenced benchmark for attorney fees in SA. | We used it to estimate transfer attorney fees and explain they're negotiable. We built realistic closing cost ranges alongside deeds-related fees. |
| FNB Property Barometer | FNB is a major lender with documented methodology based on transaction data. | We used it to set the macro backdrop for early 2026 pricing trends. We incorporated apartment vacancy commentary to keep Johannesburg expectations realistic. |
| Absa Housing Price Index | Absa is a major bank publishing a respected house price index product. | We used it to cross-check that broad SA house price growth remains modest into 2026. We avoided overreacting to short-term listing spikes in specific suburbs. |
| Rode Report Q1 2025 | Rode is a long-standing SA property research publisher used by professionals. | We used vacancy context to support that apartment vacancies vary by city and metro. We kept fast-rising neighborhood claims grounded in demand and supply reality. |
| PayProp Rental Index | PayProp is a major rental payments platform with a transparent sample frame. | We used it to anchor rent-level expectations for buying versus renting analysis. We cross-checked affordability against purchase prices in Johannesburg nodes. |
| Property24 Foreign Buyer Guide | Property24 is one of SA's largest portals with guidance aligned to legal practice. | We used it to outline foreign-buyer compliance steps in plain language. We highlighted practical pitfalls that could delay transfer. |
| ooba Foreign Buyer Mortgages | ooba is a large mortgage originator dealing with real lender underwriting rules. | We used it to support the typical 50% deposit reality for non-residents. We translated exchange-control constraints into clear down-payment expectations. |
| SARB Financial Surveillance | SARB is South Africa's central bank administering exchange control rules. | We used it to ground the foreign funds and repatriation logic. We explained why banks care about paper trails for foreign buyers. |
| Private Property Foreign Buyer Overview | It's a major SA property portal reflecting commonly applied lending constraints. | We used it to cross-check the 50% lending constraint and documentation requirements. We kept the finance section practical for non-professional buyers. |
| Property24 Levy Guide | This explains how sectional title levies work in practical terms for buyers. | We used it to anchor levy components and special levy risk warnings. We converted this into Johannesburg-realistic monthly fee ranges. |
| Santam Home Contents Insurance | Santam is a major SA insurer with clear product scope definitions. | We used it to clarify building versus contents insurance responsibilities. We provided conservative premium ranges for typical contents coverage. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Africa. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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