The official Tshwane mayoral mansion was auctioned for R5.1m in Hyde Park‚ Johannesburg on Thursday.Tshwane mayor Solly Msimanga‚ who was present at the auction‚ said the funds will be used to build a minimum of 40 low-cost houses.In his bid speech, the mayor had pleaded with buyers to take the sale up to R8m. However‚ the price was much higher than the average estimated value of houses on Muckleneuk which is R2.5m‚ according to Property24’s trends record. "I was hoping for more but we did say that the house is valued at R5m‚ we sort of knew that it would be a bold figure we’d get out of it. But I’m glad that we can now start putting what we promised to the people of Tshwane into motion‚ which is to build houses for the less fortunate‚" said Msimanga.He said his successor would have to stay at their own house and not enjoy the luxury of staying at a mayoral house. "We are here to serve people and we should do that from our own home. I live in my own house that I was staying in way b...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.