Up-country buyers target ‘Toti

Beachfront property in Amanzimtoti on KwaZulu-Natal’s South Coast is again finding favour among buyers from South Africa’s interior regions.
Deidre Ronnenberg, owner of the local Aida office, says buyers of holiday apartments and flats starting reappearing in the local market in October last year. “After a relatively quiet period in the first three quarters of last year, interest picked up as buyers and investors judged the timing to be right,” she says,
“Lower interest rates and indications that the market had reached the bottom of the current economic cycle spurred new interest, while the upcoming Soccer World Cup tournament definitely contributed to renewed buying activity.”
Two-bedroom, two-bathroom beachfront apartments currently lead the pack in buyers’ choices and those priced at R600 000 and R800 000 garner most interest.
Ronnenberg adds that house sales are also showing signs of renewed activity. “Toti’s fortunes were boosted by the completion of the new Galleria shopping mall as well as planned upgrades to infrastructure by the eThekwini municipality. The new shopping centre not only serves local residents, but also draws shoppers from neighbouring towns and holiday spots.”
She says the trend to upgrade has also taken root among property owners and new buyers. “Older units are being refurbished, giving Toti a fresh, new appeal,” she says.
Houses are selling at prices from about R800 000 for three-bedroom units with double facilities up to R4m for luxury homes that are suitable for use as guesthouses.
The local Aida office, which opened about 18 months ago, has gained a large market share in Toti, says Ronnenberg. “Although the Aida brand was already a household name among local consumers, we have been overwhelmed by the positive response from the market. We have a strong team of six agents and have recently added Colin du Plessis to our team. Colin is a highly experienced area specialist and has taken sales of beachfront properties to new heights since joining us.”
Issued by Aida National Franchises

  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