The lower South Coast of KwaZulu-Natal from Port Shepstone to Margate, including Harding and right through to Port Edward, is proving increasingly appealing for home buyers seeking a coastal lifestyle at an affordable price. Similarly, and closer to Durban, the South Coast areas of Scottburgh and Pennington are also in high demand either for permanent residence or retirement.
Pam Golding Properties’ Mohammed Amra, area principal in Port Shepstone and Margate – adding to his existing successful PGP offices in Westville and Pinetown, and Cathy Molyneaux, the area principal in Port Edward, are upbeat regarding the residential property market in a region increasingly sought after due to its huge value for money and accessible pricing.
“This scenic, unspoilt coastline has arguably the best Blue Flag beaches in the country and sound infrastructure with hospitals, shopping centres and all amenities on hand. In addition, the reintroduction of direct flights from OR Tambo International Airport to Margate has favourably influenced buyer demand for homes, which cater for all price ranges and requirements,” says Amra, who recently opened a new office strategically situated in Marine Drive, Uvongo.
Demonstrating an ongoing, substantial appetite for the lower South Coast, upcountry buyers form the mainstay of our market, finding considerable value in beautiful apartments with spectacular views which can be acquired at prices ranging from R1.3 million to R2.5 million.
“We are also seeing a ’semigration’ of buyers from the more commercialised KZN North Coast, and as a result are optimistic that developers with vision will capitalise on opportunities in the marketplace to create a Zimbali or Simbithi type estate on the lower South Coast.”
“This region has a solid infrastructure, including the most private hospitals in a 10km radius compared to the rest of the country, while the recent revamp of Shelly Centre and South Coast Mall, as well as talk of further premium brand stores, speaks volumes about the potential for the area,” says Amra.
Molyneaux, who covers the areas of Port Edward, Leisure Bay, Glenmore, Munster, Palm Beach and Trafalgar, now with added responsibility for San Lameer, Marina Beach, Southbroom and Ramsgate, has expanded Pam Golding Properties’ reach with a newly opened office in Bond Street, Ramsgate.
“There’s been a definite uptick in the market, particularly up to the R2 million mark. Southbroom, the ‘Sandton’ of the South Coast, attracts many visitors from Europe and is experiencing an increase in top-end buyers both from overseas and Gauteng. Here, homes can range from R2 million up to R19 million or R20 million.”
“Other notable trends in our areas include an upsurge in first-time buyers as well as retirees from upcountry and increased interest from leisure buyers, especially golfers. Apart from sound value for money and increased accessibility, other attractions include beautiful, tranquil beaches, numerous top class golf courses, options for deep sea, rock and surf angling as well as scuba diving facilities. In short, there is something for everyone.”
All the national franchised restaurant chains operate in the area as well as a few exclusive, privately owned establishments offering French and Italian cuisine. Importantly for families, there are a number of private and public schools in the area as well as retirement homes and private medical facilities.
“Our portfolio of properties is sufficiently diverse to offer any potential purchaser a wide range of choice, with studio units priced from R299,000 to luxurious apartments for R5 million, entry-level houses from R700,000 through to exquisite top-end residences for R20 million. Apart from single, stand-alone homes, these include gated estates and complexes.”
As an example of value for money, she says a luxury South Coast home which can be had for around R4 million or R5 million is comparable with a similar quality North Coast property which would fetch from R12 million to R14 million.
Adds Molyneaux: “For the family buyer, an appealing upmarket home in a very desirable area such as Ramsgate or Marina Beach – between Trafalgar and San Lameer, can be acquired for around R2 million or R3 million.”
Home Buyers: Retirees Head For Scottburgh
Situated just south of Durban on the KwaZulu-Natal coastline, the Scottburgh and Pennington areas, including Umkomaas to Park Rynie, are experiencing heightened interest and demand for residential property, especially retirement homes.
Stef Nel, area principal for Pam Golding Properties says this trend is particularly evident via the company’s website, with website views of property in this region surging from 8,000 to approximately 20,000 per month from September 2015 to December 2015/January 2016.
“Scottburgh is by far the flavour of the year, drawing home buyers with its attractive beaches and new private hospital. Enquiries for homes are from the inland provinces as well as the rest of KZN, especially Durban and the North Coast areas, with the year-round temperate coastal weather and affordability usually cited as key reasons for relocation on retirement, getaway property acquisition or permanent residence.”
“Buyers comprise a 50 : 50 mix of primary residential and leisure purchasers, while small freehold and sectional title properties are equally popular, affordably-priced between R1 million and R1.5 million. Here in Craigiburn on Umzinto you can still acquire a two or three bedroom house or apartment for below R1 million.”
“We have also recently sold a number of properties situated close to the beach priced around the R3 million mark, which will fetch a four bedroom residence with double garage and perhaps a swimming pool. In Rocky Bay, sales of residential property above R1 million have increased due to the shortage of stock in the lower price brackets. Vacant plots are also selling in Scottburgh and Pennington, offering huge value for as little as R250,000 and R380,000 for 1000sqm, or from R500,000 to R600,000 for 1 000sqm and 1 200sqm stands in Freeland Park and also Scottburgh, depending on location.”
“It’s as if our ‘village’ type ambience away from heavy city traffic congestion has been discovered by a range of buyers who now consider these areas very accessible to Durban, particularly for commuters working in the city and the industrial areas in the south. Central Durban is roughly 35 minutes’ drive while the new King Shaka International Airport is an hour away. Scottburgh Mall provides ample retail and other amenities while the Scottburgh’s beachfront is about to be redeveloped by the Umdoni Municipality, with new walkways and shops planned, in addition to re-development of the Rocky Bay area.”
“Another key motivator for property buyers is the proliferation of retirement villages, making this a mecca for retirees and resulting in a massive waiting list. Such is the demand that many people looking to retire are buying a ‘step-down’ property such as an apartment within a complex in the region of R1 million to R1.2 million, while they wait for a retirement village unit to become available. To meet this demand a new retirement complex comprising approximately 350 homes is planned.”
This article “Home Buyers Flocking To KZN South Coast” was issued by Pam Golding Properties – http://www.pamgolding.co.za/