Holiday units in Shelly Beach and Uvongo on the KwaZulu-Natal South Coast are once again in favour among buyers and investors.
Marietjie Stols, owner of the Aida office in Shelley Beach, reports that buyers from Gauteng and the Free State started making a reappearance in the market in December last year and that the market has picked up considerably since then.
Pressure on prices during the recession has created a buyers market and now better access to bank finance coupled with a general mood of optimism is spurring on activity.
Prices now start at around R800 000 for two-bedroom, two-bathroom townhouses without sea views but the most popular price range is now around the R1m mark. Prices of units with partial sea views start at around R1,2m while full sea views will add about R800 000 to that price.
Although there is less activity in the topmost price categories, where luxury penthouses with full sea views can cost up to R24m, some transactions around the R5m mark are being concluded.
Stols adds that stands in The Farm eco-estate that are now being offered for resale are also finding favour among investors and those planning holiday homes. The luxury estate in Shelley Beach offers stands without sea views from around R400 000 and some with sea views from R550 000.
Building packages to the value of R2,8m are available, but buyers also have the option of using own builders as long as the prescribed Balinese/Tuscan architectural guidelines are followed, she says.
The estate offers a total of 184 stands and about 50 homes have been completed.
Article by: www.aida.co.za