Exclusive Southbroom still drawing buyers

Southbroom, the upmarket holiday and retirement enclave near Margate on the KZN South Coast, is still viewed as a good investment among businessmen, retired professionals and artists.

"Part of its enduring charm is that it lies in the heart of the Greater Mpnjati nature reserve with its protected beach, while a golf course wends it way through the town," says Aida Margate's area specialist Willie van Graan.

"The setting is ideal for nature lovers who enjoy peace and quiet. Southbroom is mainly a residential town with just the most basic shops such as a general dealer and a bottle store and, with a single entrance and exit, there is very little hustle and bustle," he says.

International buyers started discovering the charms of Southbroom about four years ago when Scottish investors started buying property. Van Graan says this led to massive price increases - up to 150 percent in some instances - but that the market has now stabilised and sellers are prepared to negotiate on price.

Properties in the northern part of the town closer to the highway are now selling at prices from R1,8m upwards while prices in the elite southern part start at around R3m.

Top properties close to the beach or facing the fairways on the golf course go for prices of up to R9m.

Van Graan adds that there is still room for development, with large stands selling from around R700 000. Stands with a sea view sell from R800 000.
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