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The continued relative affordability and value for money of homes on the south coast of KwaZulu-Natal, coupled with the attractive lifestyle offering and year-round climate, suggests that this region will continue to attract new residents and owners, says Pam Golding Properties.
In recent years, many buyers in Amanzimtoti, south of Durban, are young adults, suggesting that first-time buyers are drawn to the south coast, as well as middle-aged and retired buyers, including those from between 40 and 50 years who plan to move now. for future retirements on this coast.
Stretching from Amanzimtoti to Port Edward, this region offers many attractions for those seeking a coastal lifestyle at an affordable price, the property group said.
Pam Golding Properties Port Shepstone and Margate Area Director Mohammed Amra said that this picturesque coastline has arguably some of the best Blue Flag beaches in the country and a strong infrastructure with hospitals, public and private schools, shopping centers and all the amenities at hand.
It also has a number of outdoor activities such as water sports, golf, on world-class golf courses, hiking, angling, diving, and mountain biking.
Home buyers can find considerable value in apartments and houses with spectacular views that can be purchased at prices ranging from approximately 1.5 million rand to 3 million rand and more.
Yet despite Covid-19 and the harsh lockdown, residential property prices on KZN’s southern coast have remained surprisingly resilient, portending a return on capital investment in the medium and long term, said the group.
Pam Golding Properties said it is experiencing an ongoing semi-migration of buyers from other areas of the province, including the more commercialized and upscale north coast of KZN, from the interior of the country and other provinces, both from the interior and from the east and west of the Cape.
With the exception of Amanzimtoti, which is home to numerous sectional title complexes, residential property on the south coast of KZN is predominantly freehold, yet the range of properties is diverse enough to offer any potential buyer a wide range of properties. options.
In addition to individual and independent dwellings, these include urbanizations and gated communities.
Scottburgh attracts buyers with its attractive beaches and private hospitals, while Pennington offers considerable value for money, said Pam Golding Properties area director Stef Nel.
“It’s as if a new group of shoppers has discovered the region’s ‘village’ environment, away from the city traffic congestion, which they consider to be very accessible to Durban.
“In recent months we have seen a tremendous increase in inquiries and some good sales, including at the luxury Selborne Golf Estate. With low interest rates, we are seeing numerous first time buyers entering the market and for the first time running out of entry level properties below R1 million, a price band that attracts zero transfer fees. ” .
At Amanzimtoti, Area Manager Jacques van Schalkwyk said the main challenge at the moment is a shortage of stocks to meet the strong demand.
“Sales activity is dynamic and continuous. We currently have a limited amount of land for sale within urbanizations and gated communities, with prices ranging from R385,000 to R660,000 in the most affordable price range in an attractive complex like Milkwood Gardens, while a complex of four rooms, three -The bathroom in the same development is currently on the market for R2.6 million ”.
“Currently, there is a significant demand for two- or three-bedroom simplex garden units below R1 million, mainly from buyers from emerging markets who are interested in our area,” said van Schalkwyk.
He said buyers are getting better, buying rather than renting or relocating to surrounding areas like Umlazi or Chatsworth. “While our average sale price is R1 million, recent sales include properties that reached R3 million and R3.75 million,” said van Schalkwyk.
In the Port Shepstone and Margate areas further south, Amra reports steady sales and says the key price range for the activity is between R500,000 and R1.3 million, with the exception of a recent sale for R2.55 Millions, with most sales below the million rand mark and with the majority of buyers looking for investment in apartments, they can rent during the holidays and use them themselves during the year, or for long-term rentals. “We also have some buyers who move to the coast from other areas or regions.
“A good example of the value for money on offer is the recent sale of a two-bedroom beachfront unit in Margate with direct beach access for R630,000, this in a complex with boma areas, a putt-putt course, two pools, braai facilities, an on-site restaurant and endless ocean views.
“Another two bedroom, two bathroom apartment in a complex in Uvongo, also with sea views, sold for R570,000 within a week of listing. In Shelly Beach we sold a three-bedroom house on a high-end eco-farm surrounded by nature for R2.55 million, ”Amra said.
In Port Edward, recent buyers include local residents as well as a UK buyer who purchased a studio and home bought by a South African expat living in Dubai.
“There has been a huge increase in interest in residential properties, especially second homes in Leisure Bay for vacation use or for retirement in the future,” said Pam Golding Properties Area Director Cathy Molyneaux.
Here, furnished studio units with balcony and sea views cost just R320,000 to R400,000, while a luxury five-bedroom house in a coastal eco-friendly property with sea views can be had for R3.2 million and an excellent beach, four-bedroom house with adjoining bracket for R2.9 million
Read: Young South Africans are buying homes in these Gauteng suburbs
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