Prime waterfront property around the globe is and always will be highly sought after - a fact which is particularly true in South Africa, which with its sunny climate and scenic vistas, is home to arguably some of the best waterfront real estate to be found, says Carol Reynolds, Pam Golding Properties manager for Durban.

"The Point Waterfront, which is still in its early developmental stage, is starting to see renewed interest from buyers taking a longer term view - those who realise that this area is ideally positioned to provide astute buyers with some of the city's most desirable real estate in years to come. While development of the Waterfront has taken off slowly, the area is now undergoing extensive redevelopment. Currently we are marketing a number of brand new luxury apartments which offer sound value and investment potential. They are also ideal for rental to visitors during the 2010 Soccer World Cup, as they offer tourists the ultimate lifestyle proposition and are not only brand new but are also fitted with the best finishes," says Reynolds.

At The Spinnaker, a new luxury penthouse apartment building located at the Point Waterfront near the harbour entrance, PGP is marketing a 444sqm, three bedroom (two en suite), three bathroom luxury home which is being sold fully furnished. It includes a wrap-around open balcony with Jacuzzi and lush garden, open plan office/study, two dining rooms, two lounges, fully fitted, ultra-modern kitchen with gas and electric stove, covered terrace and garaging for three cars. With panoramic views over the ocean, harbour, city and to the Bluff, this luxurious home is priced at R11 million and includes intercom, CCTV and plasma TV's. The building has round the clock security guards at both entrance and exit.

At Point Bay, completed at the start of 2009 and only five minutes from the beach and a 10 minute walk from uShaka Marine World, PGP is marketing 10 upmarket units ranging in size from 75-193sqm and priced from R1.57 million to R4.2 million - both furnished and unfurnished. There is no transfer duty payable on the unfurnished apartments. The units have from two to four bedrooms and two or three bathrooms, granite kitchens and two undercover parking bays included in the purchase price. All the units have balconies and while most have scenic ocean views some enjoy views over the vibrant harbour. The building includes a rooftop communal pool with spectacular views, elevators and 24 hour manned security.

Adds Reynolds: "In addition to being designed to maximise homeowners' enjoyment of Durban's year round sunshine, Point Bay displays creative and beautiful architecture. The units offer sound value for money and good investment potential for those able to take up the opportunity at this time.

"Right now we're seeing a positive shift in the property market in general - suddenly we're noticing less available stock, which is an indication that the market is starting to turn as buyers commit to purchasing. We're also seeing more activity at show houses and through the PGP website, so sentiment is improving," she says.

Issued by Gaye de Villiers

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