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Amanzimtoti property a sound investment

26 Feb 2015

That section of South African society which keeps an eye on the property trends countrywide is now awakening to the fact that any buy in the Amanzimtoti precinct, 30km south of Durban, an area which includes Amanzimtoti itself, Athlone Park, Doonside and Kingsbury, is likely to be a sound investment.

This home in Amanzimtoti has four bedrooms, two bathrooms and a study area. It is priced at R1.245 million - click here to view.

This is according to Erine Kleyn, the Rawson Property Group’s franchisee for Amanzimtoti, who says over the last two years, price rises of 5% to 10% have been seen in the area.

The result is that today sectional title units, which comprise some 60% of the local housing stock, are now selling in a price range of R650 000 to R900 000, while freehold homes usually sell from R900 000 to R1.25 million - good value by South African standards.

“The bulk of the enquiries have been for beachfront properties, particularly those suitable for holidaymakers, whether owners or tenants.”

About 40% of their buyers of all types of property tend to be from Durban or Amanzimtoti, while a further 40% are from Johannesburg and Pretoria, she says.

This two bedroom apartment in Amanzimtoti is on the market for R745 000 - click here to view.

Kleyn says in view of the on-going demand for houses now being experienced in the area, they are budgeting for a 10% increase over the coming year.

Currently, her portfolio of managed properties numbers 56 to 65. Rents have risen about 7% to 10% per annum in the last two years and Amanzimtoti or Athlone units will rent between R3 000 and R6 000 per month.

She says anyone selling property in the Amanzimtoti precinct can do so with a fair amount of confidence because of the area’s attractions, namely beaches, up-to-date, well designed retail malls, quality restaurants and bistros and other entertainment venues, as well as proximity to Durban.

“All of these factors contribute to the area’s appeal and the on-going demand for property,” says Kleyn.

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