{"id":526984,"date":"2021-10-17T07:00:20","date_gmt":"2021-10-17T05:00:20","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=526984"},"modified":"2021-10-15T15:36:24","modified_gmt":"2021-10-15T13:36:24","slug":"this-coastal-town-in-south-africa-is-the-new-hotspot-for-high-net-worth-semigration-buyers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/526984\/this-coastal-town-in-south-africa-is-the-new-hotspot-for-high-net-worth-semigration-buyers\/","title":{"rendered":"This coastal town in South Africa is the new hotspot for high-net-worth semigration buyers"},"content":{"rendered":"

Umhlanga on Durban\u2019s north coast has become one of the hottest markets for semigration buyers according to Brett Botsis, Seeff\u2019s licensee for the area.<\/p>\n

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.<\/p>\n

“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.<\/p>\n

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.<\/p>\n

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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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.”<\/p>\n

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.<\/p>\n

Homes currently on the market in Umhlanga Rocks include a R35 million, 4 bedroom penthouse.<\/p>\n

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R23 million buys you this 5 bedroom house on the beach<\/p>\n

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And R15,995,000 gets you a 4 bedroom house slightly inland in La Lucia<\/p>\n

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Read: These 5 zoom towns in the Western Cape are attracting strong interest<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Umhlanga on Durban\u2019s north coast has become one of the hottest markets for semigration buyers according to Brett Botsis, Seeff\u2019s licensee for the area.<\/p>\n","protected":false},"author":10,"featured_media":526988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26,10773],"class_list":["post-526984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline","tag-seeff"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/526984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=526984"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/526984\/revisions"}],"predecessor-version":[{"id":527046,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/526984\/revisions\/527046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/526988"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=526984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=526984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=526984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}