Zululand property market stirring
The upper stretch of the KwaZulu-Natal north coast, often overlooked as the area further south boomed, is now beginning to gain ground as the next big property mecca.
Rene Baumann, the ERA Unique franchisee in Richards Bay and St Lucia, says the region from north of the Tugela River to St Lucia and beyond, is showing early signs of recovery from the economic doldrums, possibly ahead of the rest of KZN.
The region includes the likes of Zinkwazi, Mtunzini and St Lucia, the inland areas of Empangeni and the industrial areas of Mandini and Richards Bay, offering a wide selection of properties from stand-alone homes to security villages at prices that range from the distinctly affordable to the really upmarket.
Its an area that boasts the characteristic KZN attractions of palm-fringed beaches, teeming game reserves and endless mountains as well as moderate to high year-round temperatures, and it provides a superb setting for property developments, notably the impressive Zimbali which is attracting large-scale international and local investment, he says.
The advent of La Mercy airport will also make an enormous difference to the commuting patterns of the area while the N2 North already provides world-class road access along the entire coastal spine of the region and thence inland.
Baumann admits that the areas property market has been somewhat quiet in recent months but says that it is now beginning to show an increase in activity, notably around Mtunzini and Zinkwazi, both of which have a delightful village atmosphere and are becoming more popular as retirement and permanent residence choices as well as holiday destinations.
Employment-wise, the industrial centres of the region are negotiating the economic storms and although there have been some impacts on investment plans, a turnaround in the economic climate is likely to bring about a resurgence in this respect with positive spin-offs for the property market.
Meanwhile, he says, property prices that have softened in line with the rest of the country suggest that those with the resources should make use of the opportunity to acquire property assets that offer real value for money.
Indeed weve already noticed a definite increase in the number of investors and this bodes well for the market going forward.
Article by: www.era.co.za