With so much happening on the North Coast, it’s difficult to keep track of everything. So, here’s a round-up of what’s been happening in the property sector. You may just see your next buy!
Various “quality of life” factors compel people to choose where they want to live, including the availability and quality of reputable schools, key shopping centres, employment opportunities and a diverse range of housing options. All of this influences locational decisions. Ballito remains attractive to forward-thinking developers who continue to strengthen the appeal of the North Coast by delivering homes, commercial outlets and investment opportunities that boost and sustain the economic success of this area.
Many new developments have been launched in the past few months, including already-built units in Zululami Luxury Coastal Estate. “Some of the developments we have been involved in include Auria, Moyana, North Shore, Imbali Loop and Intaba Terraces,” says Richard Anderson of Local Real Estate.
“There are also some off-plan developments that are not yet built, including Husk and Valley Views,” continues Anderson. “However, an exceptionally exciting product that has grabbed the market’s attention is Lalela Estate. Lalela Estate comprises 490 single-level, stand-alone homes. Of the 94 initially launched, 54 units have already been reserved because of its highly sought-after stand-alone, single-level design and the sweet spot price point – under the R3 million mark.”
An exciting addition to the Ballito property market has been the much-needed products for first-time buyers or second-home investors, which were in short supply. Recent developments that cater to this include Ballito Hills and Ballito Village, which can now augment the highly sought-after, established complexes like Shortens Country Estate, Manor Estates and Sheffield Manor which are still attracting young investors.
Ballito Village sold out 95% in phases one and two and then 80% and 90% in phases three and four, demonstrating the high demand for better-priced properties in this area. An area needs to have options in all property categories to have a competitive market. Successful property markets rely on many factors, but without first-time buyers, there is no upward chain of transactions where it moves from first-time buyers and investors to second-time buyers. This emergence of properties starting from R700 000 has been a significant turning point.
Holiday apartments are another never-ending need in Ballito. Eloise Boshoff from Local Real Estate says that this year she has had a high volume of buyers in the age group of 25 to 45 years wanting two-bed apartments with sea views that are not too far from the beach to rent out for holiday accommodation. Marion Holland from North Coast Holiday Homes advises that record bookings for holidays were experienced in 2020, and since then, their bookings have steadily increased. “This December, our guests are booking very late, but we can tell that the demand is now peaking,” says Holland. “We also have our international travellers booking their holidays once again.”
Demand for commercial property has steadily increased in recent years, riding on the back of residential growth. Following COVID, many businesses have restructured to survive and now need increased space or additional premises. Kerry Ritson, who heads up Local Real Estate’s Commercial Division, has had a very active year in sales, with 80% of the clients being North Coast-based end-users who occupy and operate out of their own premises. Deals have from hi milion to over R20 million. “Many successful businesses have diversified into other opportunities, and there is also a high demand for rentals,” says Ritson. “Raddical Park is a brand new 4000-square-metre commercial development where we assisted the developers with their marketing. We placed all of the tenants and it was fully let within four me aths with leases ranging from three to five years. We are also working on another new commercial development, Reha Park, that is not even completed yet. Just one week after we started advertising, we placed four tenants on three to five year leases.”
Ballito is clearly a town that is still moving forward on an upward trajectory.
Words by Kai Coates