Top Berea estate agency joins Aida

Principal Renu Sewpersad said she was confident her office would further entrench its already-strong market position as part of the Aida group, as there were many synergies that would benefit both the agency and its clients.

"Apart from sharing our vision, Aida is bringing formidable business partners and a stable, reliable brand name to the table."

Aida CEO Young Carr said the Berea agency, established in 2003, had proved its mettle in the local market and would further enhance his group's countrywide representation, bringing the total number of Aida offices in KZN to seven.

Sewpersad says the Berea residential market is currently underpinned by a healthy interest among younger buyers with good credit records.

"Berea currently attracts young buyers between the ages of 25 and 35. Buyers in this age group are moving out from Durban Central but are not quite ready to embrace a fully-fledged suburban lifestyle. Situated between the city centre and suburbia, Berea is the ideal transition destination since many new residents who prefer a quieter neighbourhood still work in the city.

"The suburb also offers good schools - an important consideration for buyers with young families - and ample shopping facilities. And the nearest beach is a mere 3km away."

Affordability also contributes heavily to Berea's popularity among young buyers, Sewpersad adds. "Units priced between R500 000 and R1m are in greatest demand and sell relatively fast but buyers' resistance kicks in at prices above this level.

"However, sellers are now more amenable to negotiation and are willing to drop asking prices by up to 10% to accommodate buyers who qualify for smaller bonds."

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