‘Toti market set to sizzle this summer

Now is the time to invest in the iconic holiday town of Amanzimtoti with its moderate climate, pristine beaches and proximity to the CBD of Durban.

So says Michelle Dunnett, owner of leading local agency Harcourts Sapphire Coast, who notes: “Home prices here are literally 50% less than those for comparable properties in developments along the coast to the north of Durban, and both investors and holiday-home buyers are catching on fast.

This four-bedroom, three-bathroom home in Amanzimtoti is for sale through Harcourts for R1,55m. It has immaculate finishes throughout, a separate lounge and dining room, a lovely pool area and a balcony with sea views.

“There was a time a few years ago when sales were really not swift and a unit could stay on the market for six months or more, but these days we can get three offers in one day for a well-priced apartment. We have also had a slew of enquiries from upcountry buyers in recent weeks and are preparing for a bumper summer holiday season.”

She says the limited supply of residential accommodation and the scarcity of development land will not only help to retain Amanzimtoti’s holiday village ambience, but is also likely to put upward pressure on prices before long. “There is already a shortage of stock in the R1,2m to R1,5m price bracket, and reasonably priced homes are selling within a day of being listed.

“However, Amanzimtoti stills offers really excellent value for money. For buy-to-let investors, the advantages of purchasing here rather than along the rapidly urbanising North Coast is that it is still possible to find two-bedroom, one-bathroom flats for around R600 000 where your tenant’s rent will cover the major portion of your bond instalment.”

In addition, Dunnett says, the town is located on the N2 national highway, only 25km from the Durban CBD and 58km from the King Shaka International airport. “Consequently, although it is still best-known as a holiday town, especially among those looking for family-friendly getaways, it is becoming more and more popular as a permanent residential option.

“And the lifestyle in ‘Toti is very attractive. The beaches are clean and accessible and there is a strong sense of community. For families, there are many outdoor activities and sporting facilities tight on the doorstep, and Amanzimtoti also has great schools. There are also two large shopping malls – Arbour Crossing with a Pick ‘n Pay Hypermarket and 50 other stores, and The Galleria, which houses 12 cinemas, an ice-skating rink, a family games centre, sea-view restaurants and many national retail chain outlets.”

Meanwhile, she says, enquiries from companies who would like to house their senior executives here are becoming more frequent, and these corporate “tenants” are prepared to pay up to R25 000 a month for a luxury home with top-notch security.

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