Pinetown developments selling rapidly

Comments Lyn Forbes, area principal for PGP: “At Mariann Downs, an access controlled complex within walking distance of the Pick n Pay shopping centre, we’ve sold all 36 units recently launched, at prices ranging from just R450 000 for two bedroom units to R520 000 and R530 000 for three bedroom units. Some of the units include a garden and patio or balcony, and they range in size from 67-74sqm.

“We’ve also sold 20 units in a further newly completed development, Mariann Dales in Caversham Glen, Pinetown, where a total of 36 units have just been launched into the marketplace. Located 1.2km from the Pick n Pay centre and with a swimming pool included in the common use area of the complex, this pet-friendly development is available for immediate occupation with 100 percent bonds available to approved purchasers,” she says.

Prices start from R470 000 for a two bedroom/ one bathroom, 70sqm garden duplex to R500 000 for a two bedroom/ one bathroom, 76sqm simplex, while three bedroom/two bathroom units are priced between R510 000 and R560 000 for units varying from 71-91sqm in size.

Says Forbes, who over the past 30 years has sold some 20 residential developments in Pinetown and nearby Queensburgh: “Such is the demand for these very affordable homes which offer exceptional value for money, that the developer has also just released a further 15 units which have become available for purchase in Mariann Downs.

“These developments offer the potential for extremely sound return on investment, given that they are currently selling at prices which are about R50 000 to R100 000 below the normal selling price for such units, with good quality finishes, a secure environment and easy access to local shopping amenities and other facilities. Coupled with this the rates and levies are low, and buyers have the added benefit of being able to move in directly on transfer,” she adds.

She says even through downturns in the economy, Pinetown consistently experiences a sustained demand for homes due to its strategically convenient location between Durban and Pietermaritzburg and its generally affordable housing, making it very popular among young buyers, particularly those with families as Pinetown is home to good schools offering English and Afrikaans. As Pinetown incorporates a major commercial and industrial hub there is also a huge demand for homes to rent, presenting an ideal opportunity for investors to take advantage of the value currently available in the market to acquire buy-to-let investments - with homes selling from R400 000 in Pinetown itself up to R10 million in the Cowies Hill area.

Drawing buyers from a large catchment area, Pinetown has always been a vibrant area in regard to property sales and value for money available, with many properties including spacious gardens. There is good access to freeways leading to all major routes north, south or inland, the beach is in easy reach and the climate is more temperate than the extremes experienced in Durban or Pietermaritzburg.

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