13 Sep North Coast is attracting younger investors while retaining older established buyers
Recent statistics reveal that the North Coast of KwaZulu-Natal is not only attracting newer, younger buyers but is managing to retain current property owners as well. Half of these new buyers are under 35, indicating that the area is attracting a new type of investor. Interestingly, the lion’s share of stable owners are 50 years old and above, indicating that the area is a) an attractive option for retirees; and b) compelling established owners who may want to invest in a 2nd or 3rd property as a means of generating additional income.
Situated just a few kilometres South of Ballito city centre, Zimbali Coastal Resort has and continues to exert a pull on the residential property market. Hailed as one of South Africa’s, if not KwaZulu-Natal’s top 3 estates, Zimbali has stood the test of time as a prime choice for local and international buyers looking for ultimate luxury in a gated estate. The developers of Zimbali Coastal Resort possessed the foresight to see the immense value of the area in which it sits, long before much existed in Ballito; and by virtue of this was developed on what is arguably the best stretch of ocean-facing land in Ballito.
Zimbali’s foresight has certainly stood them in good stead, with property prices in the resort remaining stable or increasing. Largely driven by market demand for a reputable brand of international stature, Zimbali Coastal resort continues to ride the wave of success.
Not only does the resort itself offer an unparalleled lifestyle, but its location proves a game-changer with easy access to the N2 providing a direct and simple route to King Shaka International Airport and attracting more and more buyer from other provinces.
Adriaan van Schoor, Vice-President of Sales, IFA Hotels& Resorts explains, “The current demographics of Zimbali owners bear testament to the rise of ‘semigration’- the trend of setting up primary residence in one province and commuting weekly to another province for work or business. 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.”
“One would be silly to think that the two (the North Coast population increase and the increase in number of transfers in gated estates) are mutually exclusive- over 50% of the transfers which have taken place in the same period are in gated estates, injecting a whopping total of R1.4 million into the local economy. Families from other provinces are swopping the crazy commute and rushed lifestyle for the benefits of life on the coast- sunshine, the sea, warm climate, top schools and life in a premium gated estate.” he ends.