Despite the negative sentiments before the 2019 elections and the feeling that property sales would drop, certain estates like Balize Private Estate has seen an uptick in purchases. Balize Private Estate has just recently sold two properties valued at over R10 million each, which is testament that property remains a desirable and attractive investment option with even high-priced properties being snapped up, especially along the Umhlanga to Ballito corridor.
Property data also shows that there has been a significant and steady influx of Gauteng buyers who are choosing to set up their homes along this corridor. Although many of these buyers still have the bulk of their business interests in Gauteng, they are trading their homes in Gauteng for the Durban lifestyle and commuting in and out on a weekly basis.
Durban has earned its title as the best performing growth node in South Africa. Durban has long been thought of as a sleepy seaside town for holidaying, but investors are now actively choosing Durban as their destination of choice to live. Much of the North Coast of Durban now offers high-end residential property, as well as shopping malls, premium schools and hospitals. The Umhlanga Ridge has also become the home of many Blue Chip companies and multi-national business heavyweights. Durban’s pull is also strengthened by its high degree of accessibility; getting to and from main roads and highways is easy along KZN’s North Coast.
Despite an average residential property price drop across the board over the last 10 years, there are some residential segments have seen major growth. Homes within luxury residential estates and luxury sectional title apartments, like those at Balize Private Estate have seen a greater demand and with that, sales.
Balize Private Estate offers buyers both luxury sea-facing freestanding Villas and apartments within a secure estate environment. Being located within the Sibaya Coastal Precinct only adds value to the offering at Balize Private Estate and with that, appeals to out-of-towners. Many buyers, especially from Johannesburg are looking for a high degree of accessibility (to main roads and highways) that Balize Private Estate offers. What’s more is that Balize is also a short drive to the King Shaka International Airport. Typically, Durban is less congested when compared to Cape Town and Johannesburg and the migration North is in part due to Durban’s new CBD being located on the Umhlanga Ridge, with a short commute to Balize to work and back.