SEMIGRATION TO KZN COASTLINE
South African homebuyers are turning their attention to the KwaZulu-Natal coastline
The Western Cape may be the primary destination for inlanders seeking a coastal lifestyle, but soaring property prices in this province, and Cape Town in particular, have made potential homebuyers turn their focus to the KwaZulu-Natal North Coast and South Coast. Pam Golding Properties reports 60% to 70% of buyers in the Zimbali area are from Gauteng. “KwaZulu-Natal has the advantage of having less congestion,” said CEO Andrew Golding in the 2017 Pam Golding Properties Residential Review, “and there are several growth nodes in Umhlanga, Ballito and Sibaya.”
“Luxury estates from Umhlanga to Ballito are proving to be very popular,” agrees Tyson Propertiesdirector Lee Ellis. “Property prices along this stretch of the coastline are competitive and buyers get value for their money.”
Security is an essential requirement for many people, he says, which is one of the reasons luxury golf estates such as San Lameer and Selborne are attracting inland buyers.
Tyson Properties Umhlanga principal Kerry Bailey says Sibaya Coastal Precinct with its sea-facing gated estates has seen major growth and is one of the best-performing areas from an investment perspective. King Shaka and Durban international airports make it easy for businesspeople who prefer the coastal lifestyle to commute to work in Gauteng. Good schools, shops and medical facilities help to seal the deal.
Seeff Properties singles out Upper Highway within the Durban suburb of Hillcrest as offering excellent value for money and good growth potential. Besides having good schools, the area has seen extensive development in the below-R2 million market recently, says Seeff director Michele Wilson. The new Emberton Estate, with more than 500 units, has great investment potential, she says, and there is strong demand for property in Cotswold Fenns, adjacent to Cotswold Down Estate.
NOTABLE KZN RESIDENTIAL PROPERTY STATS
Property Wheel recently published its 2017 property market overview and 2018 outlook for KwaZulu-Natal – here are five highlights
1. ROB ROY RETIREMENT VILLAGE
This luxury retirement village in Botha’s Hill, near Hillcrest, will move into phases two and three over the next five years, which attests to the strong demand for retirement estates in KwaZulu-Natal.
One of the more affordable suburbs in the Greater Durban metropolitan area, Queensburgh will see at least four new developments launch in 2018, all priced between R850 000 and R1.8 million, exactly where the market demand is.
3. OCEANS UMHLANGA
This development comprises residential units, hotel suites, a high-end shopping mall and conference facilities. According to DevProp Global, which is handling marketing and sales, R2 billion-worth of units were presold in 18 months.
4. GOLD COAST ESTATE
This recently launched freehold development in the Sibaya Coastal Precinct, which offers five home types and family-focused facilities, has achieved an 80%-sold figure before release to the open market.
5. RICHARDS BAY
In Richards Bay, vacant land prices rose sharply to 80% year-on-year. The Richards Bay Port and the Industrial Development Zone hold promise for the local economy.
TEXT Georgina Guedes PHOTOGRAPH iStock by Getty Images