New upmarket development in Beacon Bay

Summit Green, a new, up-market development situated in the East London suburb of Beacon Bay is perfect for buyers looking for a coastal lifestyle in a secure complex, says Antoinette Clark, Broker/Owner of RE/MAX Border, whose office is situated in The Hub, Beacon Bay.

The estate is centrally located near schools and shops, about ten minutes from the hub of East London’s city centre. Beacon Bay is situated between the Nahoon and the Quinera rivers. The area is considered by many to be one of the most picturesque areas in the Eastern Cape, boasting pristine white beaches, sand dunes and lagoons. Beacon Bay is often described as the ‘Garden Town’ of the Amatola region, because the streets in the residential area are lined with trees.
“The area is absolutely beautiful and its proximity to the city centre makes it a prime position for the new residential development. Aside from the fact that residents here can enjoy all the lifestyle benefits of living in a coastal region, they are also conveniently situated to a number of amenities such as shopping malls, office parks and entertainment facilities. This all adds to the allure of the area, which has contributed to it becoming one of East London’s most highly sought-after residential and holiday destinations,” says Clark.
The development will feature nine upmarket duplex sectional-title homes. The first phase of the complex has already been built and nearing completion and consists of four units that are currently on the market for R1.395 million, including transfer costs.  Each unit is approximately 152m2 in size and offers three bedrooms, two bathrooms and an open-plan lounge and kitchen area, two automated garages and a built-in-braai. All units will feature contemporary finishes throughout.  Phase two, which consists of the remaining five units, is commencing shortly.

“There has been a lot of interest in the development with two of the first four units already sold. Considering its good location and modern features it is a sought-after product for the current market.  The development caters perfectly to young up-and-coming executives looking for security as well as older generation buyers who are looking at retiring or just downscaling,” says Clark.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says that properties situated in coastal regions generally offer an excellent return on investment over the long term. He notes that this is due to the fact that these regions are often sought-after for their lifestyle offering.
This is supported by data from Lightstone, a property statistics and information provider. According to their statistics, property prices in Beacon Bay were relatively unaffected by the recession and have seen a gradual but steady increase over the last ten years. Current property prices in the area are higher than those seen during the boom period. 
“Given that the area is highly sought-after and offers residents a great lifestyle, property prices in the area are likely to continue increasing. Summit Green offers buyers the opportunity to purchase and enjoy upmarket real estate in a prime coastal position, while watching their investment grow,” Clark concludes.

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