Transnet’s R100bn plan to turn Durban’s former international airport site into a dug-out port is positive for the property market in Amanzimtoti.
A bachelor or one bedroom apartment on the beachfront sells for under R500 000, a two-bedroom apartment or townhouse for under R750 000 and a three-bedroom, two-bathroom family home with double garage and pool for well under R1 million.
The town also known as the gateway to KwaZulu-Natal’s South Coast holiday playground is set to benefit from the new port expected to begin operations between 2016 and 2018.
Nicola Criticos, the new Chas Everitt International franchisee in Amanzimtoti says the acquisition of the old airport site was close to being a done deal according Transnet’s development manager Hamilton Nxumalo.
At that stage it is expected to support around 12 000 jobs and at least 20 000 direct jobs are expected to be created during construction.
“We anticipate that many of those people drawn in to work on the project will want to live in Amanzimtoti,” says Criticos.
Criticos says they expect Amanzimtoti to benefit from this project in much the same way as Richards Bay did from the construction of the port there and the subsequent major commercial and export developments around the harbour.
She says Amanzimtoti is already seeing an increase in property demand among buyers who intend to make it their permanent home because prices compare well with other areas which are a similar distance from the centre of Durban.
Although Amanzimtoti has always been and remains a popular holiday destination, an increasing number of KwaZulu-Natal locals and young families are attracted to the seaside lifestyle and the affordability of local property, she says.
The town which was incorporated into Ethekwini in 2006 has several excellent English, Afrikaans and Zulu medium primary and high schools, a variety of well-established sports facilities and two large shopping and entertainment malls, as well as beautiful beaches.
“Property prices in Amanzimtoti have come down in recent years with many holiday-home owners having been in a hurry to sell when they found themselves under financial pressure.”
She notes that a number of older residents having decided to sell up their family homes and move for financial, family and security reasons.
A bachelor or one bedroom apartment on the beachfront sells for under R500 000, a two-bedroom apartment or townhouse for under R750 000 and a three-bedroom, two-bathroom family home with double garage and pool for well under R1 million.
She adds that there is very little new development taking place in Amanzimtoti and the existing stock is being absorbed quite rapidly, so buyers who want to take advantage of these prices should not wait too long.
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