Sale of multi million rand properties in KZN shows demand for coastal estate homes
DURBAN - The demand for homes within coastal estates in KZN, remains high and recently two properties above the R10 million mark at Balize Private Estate, the Sibaya Coastal Precinct were sold.
Buyers, even from Gauteng, are seeing the value of not only investing into a luxury gated estate like Balize Private Estate, but also the value of being within the Sibaya Coastal Precinct and the additional benefits that come with that.
Pete Cameron, Sales Director at Balize Private Estate said, "Our experience with Balize has shown us a few things; coastal property within secure estates is always in demand, and people are buying coastal property as a way of consolidating large family homes or for their holidays".
Across the board, buyers from KwaZulu-Natal and beyond have bought up prime opportunities within private estates in Sibaya Coastal Precinct, this being land, freestanding homes and also apartments.
Cameron added that apartments are not necessarily playing second fiddle to the freestanding Villas; it is really about what buyers want. Some have children and still have a need for the space and personal facilities that come with their freestanding home while others are happy to live in a well-appointed and expertly designed apartment because it ticks all their boxes".
"At this end of the market spectrum, price is not necessarily the overarching determining factor when purchasing a home, and the fact that Balize has sold properties above the R10 million mark is testament to this," said Cameron.
Notably, size also doesn’t always matter, especially within an estate like Balize where both freestanding homes and the Cabanas have been snapped up, as Cameron explains, "What supports this notion is that buyers have shown a great expression of interest in our Cabanas as well, which have translated into sales".
With proximity to King Shaka International Airport, Umhlanga, Ballito and the beaches of the North Coast a big draw card, high value property sales in the Sibaya Coastal Precinct have continued, with the one of the most valuable properties, a freestanding luxury plot, selling for as much as R80 million.
"The growth of the precinct is phenomenal to see, and to be a part of this growth and watch the interest in the precinct grow as buyers begin to understand the magnitude in which they are buying into really speaks for itself when people start buying homes for over R10 million. We are seeing the traction now on the precinct as the developments start going up and do believe that this will be a catalyst for future sales," concluded Cameron.
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