Property buyers flock to Natal’s North Coast
KwaZulu-Natal’s North Coast has become a hotspot for property investors. It’s particularly sought after by people under 35 who are buying their first home, and buyers over 50 who are either retiring or seeking to earn additional income by renting out their purchased property.
One place that exemplifies this purchasing influx is Zimbali Coastal Resort, a gated community that’s right near Ballito. Property buyers here are actually involved in a phenomenon that has come to be known as ‘semigration’. Simply put, it’s the move from one province to another to attain a better quality of life, as opposed to ‘emigration’, which is the move from one country to another.
Adriaan van Schoor, Vice-President of Sales of IFA Hotels & Resorts (which owns Zimbali Coastal Resort), elaborates on this trend within the context of the North Coast. He explains, “About 60-70% of our owners hail from Gauteng and have made the choice to set up their primary residence in Zimbali. Therefore, it is not surprising that there has been a sharp rise in the number of families moving to the North Coast and the number of estate property transfers over the last year.”
The hustle and bustle of Gauteng life is no doubt the reason so many of its residents are moving to KwaZulu-Natal. The province is celebrated for its idyllic coastline. Zimbali and other estates like it have proven themselves to be havens, not only for South Africans, but for international buyers as well.
Of course, these estates differ from one another in terms of average property price. Writing for Business Report, Dhivana Rajgopaul states, “the average per-square-metre rate range on the North Coast for sectional title property is currently R18 000- R26 000 p/sqm.” Given such figures, and such a setting, everyone’s benefiting by being at the North Coast.
