Durban’s metropolitan area has been highlighted as a key strategic growth node for Pam Golding Properties (PGP). The group recently launched a new flagship corporate office in Montpelier Road, upper Morningside.
The office incorporates the areas of Durban central city, beachfront, the Point and Waterfront, Berea, Morningside, Overport, Glenwood and Umbilo and is intended to provide a springboard for additional satellite offices to be launched in these areas.
"Located in a region of economic significance, we see Durban as an area whose property market has considerable unrealised potential. As a result, as a group we are significantly growing our presence here,” says Dr Andrew Golding, CE of the PGP group.
KZN has always been a stronghold for PGP, which originally launched its operation in the province in 1993. Currently the company has 46 offices throughout the region.
Commenting on the marketplace, PGP KZN regional manager Barbara Becker says The Point Waterfront is now seeing prices appreciating with luxury apartments selling between R2 and R7 million. "This is in line with global trends, as prices of waterfront homes anywhere in the world come with a premium price tag," she says.
In sought after St Thomas Road on the Berea PGP is currently marketing a new development with units priced from R1,4-R2,4 million.
Becker says in the Berea, including Overport and the North Ridge Road area, there's a definite trend towards homes being purchased for redevelopment - for the construction of upmarket new apartments - given the fact that there is no land available for new development.
Caption: Celebrating the opening of Pam Golding Properties new flagship Durban office are from left: Barbara Becker (PGP regional manager in KZN), Dr Andrew Golding (CE of the PGP group), Carol Reynolds (PGP manager, Durban office), and Patrick Maingard (MD of Pam Golding Franchise Services).