select
|

Value for money in uMhlanga’s high-end housing market

Widely recognised as the premier coastal resort in KwaZulu-Natal (KZN), uMhlanga continues to attract high end residential property buyers and investors, reports Elwyn Schenk, area principal in uMhlanga and uMdloti for Pam Golding Properties (PGP).

“As top end homes go, and taking into account its appealing, convenient and scenic location, uMhlanga provides good value for money, especially when compared with areas such as Cape Town’s Atlantic Seaboard.  

“For those living on the KZN east coast ‘high end’ would probably mean property starting at around R5 million. Interestingly however, PGP has for sale a three bedroom, two bathroom unit in a gated estate and with direct beach access, for R3.5 million. Admittedly this requires modernising but for under R5 million – even with the cost of refurbishing added to this - the purchaser would have a modern secure home in the best area.   At the other end of the spectrum, a luxury, freestanding, five bedroom home on the beach with spectacular views, direct beach access, as well as being situated within a secure gated estate with a large exclusive use land area which ends right on the beach, is priced at R21.5 million,” says Schenk.

Over the past six months PGP uMhlanga has sold a number of homes which fall into the high end category. In the uMhlanga beachfront areas these include luxury, three bedroom apartments which sold for R3 million and R3.7 million – situated on the beach; a R3.37 million sale - close to the beach; and R4 million – for the sale of a property adjacent to the beach. In uMhlanga village and uMhlanga Ridge PGP has sold a three bedroom apartment in a secure complex and within walking distance of the beach and shops for R5.1 million, as well as high end houses in prime locations priced at R4.9 million, R5.4 million and R8.3 million respectively. The latter property is an older home with development potential. In Hawaan Forest Estate PGP sold a newly-built Stefan Antoni Olmesdahl Truen Architects designed home for R9.5 million.

Says Schenk: “Enjoying sunshine for approximately 320 days a year, uMhlanga is popular for its numerous outdoor activities and caters for everyone’s property needs. The ‘village’ as it is fondly known by residents presents a vibrant yet casual and easy lifestyle. The Gateway precinct has developed its own personality around the ‘live, work, play’ lifestyle offering and is popular among a broad cross-section of people, including the younger set, where starter apartments can be had for R900 000 for a two bedroom, one bathroom unit. In-between is uMhlanga Ridge, comprising upmarket homes, many of which enjoy expansive sea views as the Ridge rises quite sharply above the coast.” 

Currently on the market through PGP, and for those who enjoy living in exclusive luxury apartments, are units in the ‘Oysters’ cluster of Oyster Schelles, Oyster Rock and Oyster Reef. Well positioned on the uMhlanga promenade and with easy access to the Oyster Box Hotel which is also in the estate, and minutes’ walk to the village, you can acquire a three bedroom, 2.5 bathroom apartment of 169 square metres with panoramic views for R5.5 million.

Says Schenk: “For those seeking a luxury apartment in uMhlanga Village, just a few minutes’ walk from the main beach, we have a few remaining apartments in Beacon Rock, construction of which will be completed in July 2013. The first section of the project is already occupied. For R2.5 million (no transfer duty payable), one can acquire a 120 square metre, three bedroom, two bathroom unit with good finishes, and including a 13 square metre terrace area.”

On uMhlanga Ridge, an area favoured for its convenience to the village, beach and Gateway shopping centre, PGP has a sole mandate on an exquisite family home with beautiful gardens and sweeping scenic views. “Set high on the hill on a double plot, this Balinese-style house has five bedrooms, all en suite, and is priced at R12 million for 600 square metres under cover – which represents good value for money,” adds Schenk. In Gateway/Newtown a magnificently finished executive 200 square metre apartment with three bedrooms, three bathrooms, double lock-up garage and scenic views is priced at R2.99 million.

Concludes Schenk: “In the current market it is acknowledged that existing properties are being marketed at a discount of over 30 percent of new builds. It is little wonder that world-famous Warren Buffet is investing hugely in US residential property, where the gap has been even greater. There is, in our view, no better time to acquire your dream home.”

He adds that areas covered by the uMhlanga Urban Improvement Project (UIP) and its associated Special Rating Areas are sought after because of the UIP’s commitment to a clean, green and secure environment.


  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