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Plenty of property action in Amanzimtoti

With more than 430 homes sold in the past 12 months, Amanzimtoti currently has one of the most active coastal property markets in SA – and is set to get even busier as Transnet proceeds with the multi-billion rand development of a new dug-out port on the nearby site of the old Durban airport.
 


But this project is not the only reason for the growing demand for local homes in Amanzimtoti, says Brad Wessels, manager of the Chas Everitt International Amanzimtoti franchise, which was recently named by the group as its top performing office in KwaZulu-Natal for the past year.
 
“We have also seen major commercial development here in the past few years, including the 85 000sqm Galleria regional shopping centre, the 40 000sqm Arbour Crossing value centre and a 17 000sqm Makro store that is the biggest in KZN,” he says.
 
“These developments and others have brought thousands of new employees to town that all need somewhere to live, in addition to the Transnet project contractors that have started to move here, and an increasing number of buyers from inland provinces and Durban itself who are moving here to ‘downshift’ to a quieter, less stressful lifestyle.”
 
At the same time, these new permanent residents are attracted by the fact that Amanzimtoti is just 25km from the centre of Durban if they need to access offices in the city, that it has a selection of excellent schools, shops, medical and entertainment facilities, and that its burgeoning local economy is full of promise for those looking to leave corporate life and start new businesses. 
 
“Then on top of that,” says Wessels, “we are seeing a resurgence of holiday home and investment buying as household finances continue to recover from the effects of the recession. With its exceptional weather, warm sea and beautiful beaches, ‘Toti is still a premier holiday destination, and an increasing number of people are taking the opportunity to buy their second homes here while property prices are still relatively low.”
 
According to property data company Lightstone, sectional title flats and townhouses make up 68% of the housing stock in Amanzimtoti, and the average selling price of such units this year has been R616 000 to date. Freehold homes which make up the rest of the stock are currently selling at an average of R1,23m.
 
At the lower end of the market, working singles and young couples looking to get on to the property ladder can buy one-bedroom flats for around R450 000, while at the upper end, luxury homes are available for around R5m.
 
“In short,” says Wessels, “property here offers very good value for money compared with other sought-after seaside towns and locations, including those along the North Coast of KZN that are similar to ‘Toti in many ways.”


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