Umhlanga on Durban’s north coast has become one of the hottest markets for semigration buyers according to Brett Botsis, Seeff’s licensee for the area.
He said the real-estate firm is inundated with enquiries from high-net-worth (HNW) buyers semigrating to gated estate living or upmarket sectional title properties close to the beach.
“These buyers are confident and relaxed about investing their money in these high-end properties, so much so that we have seen significant prices paid for luxury properties this year including a penthouse in Umhlanga Rocks sold by Seeff R27.5 million,” said Botsis.
The market has remained very active specifically in the lower-priced R2.5 million to R5 million range and also the R10 million to R30 million price bracket in the gated estates and upmarket beachfront sectional title blocks.
Aside from local buyers, the highest demand is from buyers from Gauteng and other upcountry provinces who are either looking to move to the area permanently or to invest in a second home to take advantage of the WFH (work from home) trend to escape the confines of the pandemic, said Seeff.
He noted that popular properties include holiday homes near the beach while semigration buyers look for a mix of security and lifestyle, hence the demand for gated estate homes and sectional title properties.
Umhlanga has always been a sought-after holiday destination with great infrastructure including the Gateway Complex, restaurants and proximity to Durban, the north coast and King Shaka International Airport, said Seeff.
People want to holiday and live, Botsis said. “Umhlanga is a sought-after, upmarket holiday destination and popular permanent residential area with all amenities on your doorstep. These include top schools and universities to choose from, thus making the area ideal for families.”
Botsis said that Umhlanga properties have always maintained their value and in general have increased largely over the years with current growth at around 5% per annum depending on the property and price category. There is also an active rental market with landlords achieving good rental returns.
Homes currently on the market in Umhlanga Rocks include a R35 million, 4 bedroom penthouse.
R23 million buys you this 5 bedroom house on the beach
And R15,995,000 gets you a 4 bedroom house slightly inland in La Lucia