Citizen reporter
1 minute read
9 Nov 2020
11:55 am

Low interest rates sees great trek to KZN South Coast

Citizen reporter

Pam Thomassen of Seeff says there has been a 'huge upsurge' in people trying to get out of the cities to regions such as the KZN South Coast.

Picture: South Coast Action Group WhatsApp

The KZN South Coast is an incredible place to live and we are seeing the anticipated interest in investors from all over the country, says Jeff Evans of Tyson Property Group.

“Over the past few months, interest in property has doubled compared to the same time last year. This is definitely connected to Covid-19 and the lockdown measures, as well as the area’s affordability and the lowest interest rates in the past 60 years.”

Pam Thomassen of Seeff says there has been a “huge upsurge” in people trying to get out of the cities to regions such as the KZN South Coast.

“Even in KZN many people are buying property on the coast for long-term and holiday use. People are even happy to live here and commute to Durban or Johannesburg for work, once a month or once a week.”

Michelle Harris, principal licensee at Seeff, Mid-South Coast, said just less than a fifth of the buyers were from Gauteng, while 76% were from KZN and around 5% from overseas, mostly the UK. Seeff had noticed a number of South Africans living abroad inquiring about properties in South Africa, from countries such as the UK and US because they want to return.

Phil Barker of Renishaw Property Developments said during the hard lockdown period, people often said they valued being in a secure place surrounded by nature.

“With the easing of lockdown measures, we have been contacted by a number of Gauteng residents looking for retirement opportunities on the KZN South Coast, citing the climate, quality of lifestyle and realistic pricing as the main reasons for choosing this area.”

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