The demand for homes within coastal estates in KZN, remains high. Having recently sold two properties above the R10 million mark at Balize private Estate, the Sibaya Coastal Precinct continues to drive demand.
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 says, “Our experience here at Balize Private Estate has shown us a few things; coastal property within secure estates is always in demand, and people are buying for the same reasons- as a way of scaling down from large family homes, for the start of their retirement and to a lesser degree for holidays.”
Across the board, buyers from KwaZulu-Natal and beyond have bought up prime land within private estates in Sibaya Coastal Precinct. Most notably, the purchase of these homes is not always for primary residential use with many purchasing for holiday use or ultimately, retirement. These buyers are purchasing both freestanding homes and apartments.
Cameron says, “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 older buyers are happy to live in a well-appointed and expertly designed apartment because it ticks all their boxes.”
Although price will always be a determining factor in a property purchase, many buyers are comfortable with purchasing high value property within estates as long as it offers additional benefits, modern conveniences and top-quality security.
“At this end of the market spectrum, price is not the overarching determining factor, and the fact that Balize has sold properties above the R10 million mark is testament to this,”