South Coast no longer the Cinderella
Amanzimtoti on the KZN south coast is in the process of becoming a property hot spot, with plenty of new developments taking place and high demand for holiday accommodation to let, especially if it offers a sea view.
And the area does have a lot to offer in terms of the ideal family holiday with good beaches and fishing opportunities.
Eric Morkot, principal of leading local agency Nationlink Amanzimtoti says that the annual sardine run is a huge attraction as well as whale spotting and dolphin viewing opportunities. "The warm sea currents also mean the visitor can enjoy the local beaches all year round."
A good example of units in demand is a recently completed complex called Lagoon Point, which is situated right on the beachfront and is becoming a landmark in the area. "The complex consists of 18 luxury units with up-market finishes such as air-conditioning, granite fitted kitchens and two full bathrooms. The smallest unit measures 231sqm in size and they range up to 430sqm for the largest of the three penthouses.
"The sea views from every unit are spectacular as they all have open balconies as well as automated double garages. Lagoon Point units were sold off plan starting from R1,4m, but today are changing hands for R2,5m," says Morkot.
He notes that there have been numerous other beachfront developments recently that have been sold off plan, and where investors have made handsome returns on resales even prior to completion - "proving the perennial investment potential of sea view/beachfront properties."
Amanzimtoti is the closest town to the Durban International Airport and now, with the prospect of a massive new shopping centre on the cards, Morkot expects the demand for both permanent and holiday accommodation to continue to increase. "Prices in the area are already catching up with those on the north coast," he says.
Meanwhile, a shortage of development land in the area is spurring a new trend - the upgrading of older blocks of holiday flats. "I receive calls on a daily basis from investors looking for land to build either a complex or just a house for their own use, and anything with a sea view is already commanding a high price."
In nearby Prospecton the industrial expansion of Toyota has also added to further demands for property. "Furthermore, the development of factory sites at Southgate Industrial Park, which has now become a very popular and affordable location for industry, will not only attract people to the area seeking employment, but will also add to the demand for permanent residential accommodation .
Article by: www.nationlinkproperty.com