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
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    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