{"id":737971,"date":"2023-12-31T12:00:00","date_gmt":"2023-12-31T10:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=737971"},"modified":"2023-12-29T07:25:43","modified_gmt":"2023-12-29T05:25:43","slug":"rich-south-africans-are-flocking-to-this-area","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/737971\/rich-south-africans-are-flocking-to-this-area\/","title":{"rendered":"Rich South Africans are flocking to this area"},"content":{"rendered":"\n

With its good schools, beaches, shopping and access to the King Shaka International Airport, the Durban North property market is seeing increased demand from wealthy buyers. <\/p>\n\n\n\n

According to Pam Golding Properties’ Carol Reynolds, sales in Durban North, uMhlanga and Sibaya are buoyant, with roughly R104 million in sales in October alone, excluding new residential developments. <\/p>\n\n\n\n

\u201cTraditionally, the months of October and November are great months as people flock to our areas for the good schools and convenient lifestyle \u2013 including buyers who had moved further afield, returning to perennially popular suburbs such as Durban North, which is an ideal location to raise a family,\u201d said Reynolds.<\/p>\n\n\n\n

\u201cJohannesburg and other Gauteng buyers often look to buy in estates because of the security but also tend to acquire the larger mansions in the upper Durban North node. Interestingly, we have seen a resurgence of interest in spacious, grand mansions, which are priced in the R10 million-plus price bracket, many of which are located in upmarket estates in uMhlanga and Sibaya.” <\/p>\n\n\n\n

\u201cThere is definitely an ongoing migration of affluent home buyers to the areas north of Durban. Our Durban North market, in particular, is a relatively stable market that continues to attract families with school-going children. The homes in this area are spacious and grand with high ceilings and impressive proportions, while the gardens are level, well suited to children and an outdoor family lifestyle.”<\/p>\n\n\n\n

uMhlanga also has several upmarket estates, which attract families due to good schools, beaches and access to the Gateway shipping centre. <\/p>\n\n\n\n

The areas north of Durban are also popular with tourists and locals<\/p>\n\n\n\n

\u201cThe new Oceans Mall has become very popular, Gateway and La Lucia Mall continue to attract plenty of footfall, so despite the challenges faced in the past year our market is resilient and has bounced back. Umdloti has been repaired after the floods and is regaining its former popularity while the new Umdloti Marine Walk Shopping Centre in the Salta Sibaya development has given the Umdloti and Sibaya precincts a boost.\u201d<\/p>\n\n\n\n

Properties at various prices in these areas can be found below: <\/p>\n\n\n\n

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