select
|

Market turns positive in Mount Edgecombe

These include the last phase of development in the Mount Edgecombe Country Club Estate, which is comprised of seven new homes of around 350sqm each, priced at R3,85m. There are being built in the same colonial veranda style as the rest of the estate.

Also under development is the new Kindlewood Estate in Mount Edgecombe village, which offers freehold stands priced from R950 000 and three-bedroom, two-bathroom sectional title apartments that are selling off-plan at prices from R1,995m.

Both projects are being marketed by Sothebys International Realty in Umhlanga, whose owner William Campbell says there has been an increase in demand for homes in Mount Edgecombe since the opening last year of the King Shaka International airport in nearby La Mercy.

“This has made it very easy for executives and professionals from Gauteng and other inland regions to relocate their families to this most desirable area and become weekly business commuters. There is even a regular shuttle service between Mount Edgecombe and the airport.”

However, he says, the Mount Edgecombe lifestyle is also very attractive to buyers from Durban and other parts of KZN. “The estate itself has two championship golf courses, squash, tennis and bowls facilities, and a superb clubhouse with restaurants, bars, function and conference rooms. And everything else one could need is close by, including a private school, a private hospital, a gym and a variety of shops.

“What is more, the business centre of Umhlanga is just a few kilometres away, as are the exciting Gateway Theatre of Shopping and Umhlanga’s beautiful beaches and trendy nightspots.”

Even better news for prospective buyers in Mount Edgecombe, Campbell says, is that home prices in the area are currently still about 15 to 20% lower than during the property boom. “This means that there is exceptional value to be had here now.”

Meanwhile, he says, there is also strong demand for rental homes in the Mount Edgecombe estate, especially from corporate clients. Monthly rentals currently range from around R11 000 up to R35 000, and usually escalate at 10% a year.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
    • 19 Jun 2018
      Douw Steyn, one of the richest men in the country, recently allowed a rare glimpse into his Fourways Palazzo when it was featured on the SABC lifestyle programme Top Billing - and it is beyond your wildest dreams!
    • 18 Jun 2018
      Many home sellers are motivated to appoint estate agents because they know that the agency will carry the costs of advertising and marketing their property.
    • 18 Jun 2018
      When a property is sold when it has a tenant in occupation, the questions often raised are: “What happens to the tenant if the landlord sells the property?”, and what rights the tenant will have with regards to cancelling the lease or enforcing it, says Sunell Afrika, rentals manager for SAProperty.com.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK