Demand for sectional title living within secure estates on the KwaZulu-Natal North Coast remains high, with an average of 40 families relocating to the North Coast every month! And in just more than one year (13 months) R2,7bn worth of transfers occurred in the greater Ballito area alone – 80% of which took place in gated estates.
It’s almost unsurprising then that an entire phase for a new development is able to sell out within a month! Lush phase 1, in the Elaleni Coastal Forest Estate, took five weeks to sell out and phase 2 is currently selling!
According to marketers, Rainmaker Marketing, property owners at Elaleni have “seen their investment grow by as much as 22% in only 18 months. This and the phenomenal sales at Lush means that owners at Lush are likely to see their investment perform in a similarly strong fashion”.
Nationally, house price growth is negative, according to FNB which pegs it at -0.5% year-on-year in May 2018.
The market demand for short-term letting on the North Coast of KZN remains high, with both investors and users looking for good opportunities. Clifton Smithers, developer representative explains, “…at Lush we have also considered the investment potential for our purchasers by including a short-term rental scheme. This scheme will enable owners to earn a rental return through short-term letting through the development’s short-term letting management structure.
“The demand for short-term letting opportunities is seeing huge growth. The North Coast of KZN is one of the top-performing areas in terms of seasonal demand for short-term letting opportunities. Based on this, owners at Lush have the potential to realise a return on their investment fairly soon.”