Welcome to East London, the gateway to the wild coast and the sunshine coast! East London, also known as "eMonti" in Xhosa, lies on the Indian Ocean and is part of the Buffalo City Metropolitan. East London is South Africa's only river port city and is set on the Buffalo River. East London has a humid subtropical climate, with warm temperatures and moderation typical of the South African coastline.
The Buffalo City boasts long, sandy beaches that appeal to surfers, swimmers and tourists alike. The famous Nahoon Reef, is a surfer’s paradise and host to international surfing competitions. East London has a lot to offer in terms of scenic nature reserves as well as being the home of the renowned Ironman 70.3 triathlon.
East London is the second largest industrial centre in the Eastern Cape. A major Daimler plant is located next to the harbour, manufacturing Mercedes-Benz and other vehicles for the local market, as well as exporting to the United States and Brazil. A positive factor impacting on the local property market is the commitment and continuing expansion of companies such as Mercedes-Benz South Africa [MBSA], which helps fuel the residential property market.
East London has 94 active suburbs.
Between 2015-02-01 to 2016-01-31:
Compared to the previous year(2014-02-01 to 2015-01-31):
Full Title and Sectional Title sales in East London had a combined value of R 1,612,439,794 with a median price of R 695,000 compared to R 1,845,838,615 with the median price of R600,000 for the prior period.
Full Title sales in East London had a total value of R 1,432,066,295 with a median price of R 810,000 compared to R 1,682,464,620 with the median price of R722,500 for the prior period.
Sectional Title sales in East London had a total value of R 180,373,499 with the median price of R 405,000 compared to R 163,373,995 with the median price of R342,500 for the prior period.
For more information regarding property valuations and suburb trends for East London visit www.SAPTG.co.za
The property market offers good value for money. Sellers are well informed and are realising the true market value of their properties, but do not have unrealistically high expectations. In turn, buyers understand that there is an active market with a shortage of reasonably priced stock in all price brackets.
You will also find luxary homes in areas such as Nahoon, Nahoon Mouth, Nahoon Valley, Abbotsford and Bunkers Hill ranged between R5.95- R10 million.
Nature lovers can also expect a treat as East London has a temperate climate, wonderful beaches and a number of game reserves including the Inkwenkwezi Private Game Reserve and the Mpongo Private Game Reserve.