COASTAL INVESTMENTS

The dramatic surge in the leisure investments sector of the property market – between 20 to 30% over the past four years – is making coastal investments an increasingly attractive proposition. Many of these investments are typically prime leisure properties at choice coastal destinations, boosted by the growth in popularity of golf estates and similar “lifestyle” developments, as well as the demand for properties within walled and secured estates.   

 

And despite the recent cycle of interest rate hikes, residential and commercial properties with sea views continue to fetch prices which offer a substantial return on investment over time.

 

Investment interest - local and international - has been reported from areas as diverse as the Cape Atlantic seaboard, the Garden Route, the Eastern Cape and the KwaZulu-Natal north and south coasts, among others. The percentage of coastal developments owned by foreign investors is also on the increase, with some taking advantage of urban development zone tax incentives.

 

In prime coastal towns and cities, corporate companies – often operating within consortiums – are investing strongly in residential and commercial developments, boosting the demand for quality seaside properties. And foreign and up-country buyers are looking to coastal property as a long-term investment, or for "second homes." 

 

In a survey on Coastal Investments to be published on November 16, 2007 Business Day will examine the lifestyle trends and growth dynamics driving this flourishing property market sector.

 

The survey will also highlight some of the major residential, commercial and industrial developments in coastal nodes across the country.

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