South African home buyers are directing their attention to security estates on the KwaZulu-Natal coast.
The Western Cape may be the primary destination for inlanders seeking a coastal lifestyle, but soaring property prices in the province, and Cape Town in particular, have made potential home buyers turn their focus to the KwaZulu-Natal (KZN) North and South coasts.
Pam Golding Properties reports 60% to 70% of buyers in the Zimbali area are from Gauteng. ‘KZN has the advantage of having less congestion, and there are several growth nodes in Umhlanga, Ballito and Sibaya,’ explained CEO Andrew Golding in the 2017 Pam Golding Properties Residential Review. ‘Luxury estates from Umhlanga to Ballito are proving to be very popular,’ agrees Lee Ellis, director of Tyson Properties. ‘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 why luxury golf estates such as San Lameer and Selborne continue to attract inland buyers. Tyson Properties Umhlanga principal, Kerry Bailey, says Sibaya Coastal Precinct, with its sea-facing security estates, has seen major growth and is one of the best performing areas.
King Shaka International Airport makes it easy for businesspeople who prefer the coastal lifestyle to commute to work in Gauteng, and 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 Michele Wilson, director at Seeff.
The new Emberton Estate, with more than 500 units, has great investment potential too, she says, and there is strong demand for property in Cotswold Fenns, adjacent to Cotswold Down Estate.
Notable KZN developments
- About 80% of the properties at Gold Coast Estate, a freehold development in the Sibaya Coastal Precinct, have been sold before public release.
- Oceans Umhlanga is a project consisting of 470 residential units and 60 hotel suites. According to DevProp Global, which is the company handling the marketing and sales of this development, R2 billion worth of property was presold in 18 months.
- In Richards Bay, vacant land prices rose sharply to 80% year-on-year. The Richards Bay Industrial Development Zone holds promise for the local economy.
- Queensburgh, one of the more affordable suburbs in the Greater Durban Metropolitan Area, 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.
- The Rob Roy Luxury Retirement Village in Botha’s Hill, and Renishaw Hills in Scottburgh will continue their phase by phase releases over the next five years, which attests to the strong demand for retirement properties in KZN.