The Amanzimtoti area of the KwaZulu-Natal south coast is seeing increased movement in the residential property market and a flurry of activity among cash buyers reports Terry Cousins, Pam Golding Properties area principal. The rentals market is also showing steady movement.

"We are experiencing a resurgence of buyers in the holiday homes market, with most of these being cash buyers mainly in the price range from R1.1-R1.3 million. These are mostly out of town purchasers from Gauteng, who feel the market is at a point where they can capitalise on the good buys available before the market turns and prices start rising once more," says Cousins.

"At present such buyers are securing excellent value for money, acquiring front row beachfront homes comprising three bedrooms and two bathrooms - along prime Beach Road - for these prices. Interestingly at the lower end of the market in the R450 000 / R500 000 price bracket there are also buyers paying cash or with high cash equity. For these prices you can buy a two bedroom, one bathroom townhouse in the Amanzimtoti or Berea areas."

"There's also an upturn in enquiries from local buyers seeking primary residences in the R1.5-R3 million price range. Many of these have been renting homes and now wish to acquire their own home at a time when they can benefit from lower prices."

Cousins says being holiday season at present the area is buzzing with visitors. "However most of our enquiries are either off the Internet or showboards rather than 'walk-in's'. The positive news is that our agents are very busy with enquiries once more and the fact that the new Galleria shopping centre is soon to open is further boosting interest in the area." He says a new trend noted is a demand from those currently residing in areas such as Isipingo who wish to upgrade to areas such as Athlone Park.

He adds the long term rentals market is showing a marked improvement with PGP's office seeing a 30 percent increase in units let compared with six months ago. "While the average enquiry is for a home in the region of R4 000 per month, we are also seeing a good demand for upmarket homes and have recently concluded a number of leases for three bedroom homes in the R12 500-R15 000 per month price range, as well as a four bedroom home let for R16 000 a month. One of these is a three bedroom apartment in Lagoon Point, one of the more upmarket buildings, let for R15 000 per month."

Issued by Gaye de Villiers

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us