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Buyers and tenants finding good value in KZN’s Queensburgh

18 Jul 2019

The inland town of Queensburgh in KwaZulu-Natal is experiencing a high demand for rental property - especially for two and three bedroom homes, apartments and duplexes in complexes priced between R5 500 and R8 000 per month.

This three bedroom, two bathroom home in Northdene, KwaZulu-Natal, offers an enclosed patio and braai area. It is selling for R1.879 million - click here to view.

Michelle Vermeulen, Seeff’s MD in Queensburgh, says due to this high demand, Queensburgh is now experiencing a shortage in rental properties, and many landlords are trying to maximise their potential rental income by letting multiple homes and granny flats on the same property.

“Demand for this type of property is, however, low as they are often not pet-friendly and sharing a property with others is a drawback for many tenants,” says Vermeulan.

“Tenants in Queensburgh also prefer security of complexes compared to full title homes, and because of this we also have low demand for freestanding residential homes.”

This home in Malvern, Queensburgh, has four bedrooms, two bathrooms, a pool and garden. It is on the market for R1.598 million - click here to view.

She says rental properties in Malvern fetch higher rentals compared to Bellair and Seaview due to the good condition of the area and properties located here.

Homes in security complexes are highly sought after across the board, especially in the price range of R5 500 to R8 500 per month.

When a rental property is priced fairly and represents good value for money, it gets snapped up right away, says Vermeulen.

“We recently let a four bedroom duplex with three bathrooms and a one bedroom granny flat at a monthly rental of R10 000, as well as a three bedroom, two bathroom simplex in Escombe for R8 500 per month. Both these properties were let within a day.”

This three bedroom townhouse in Escombe, Queensburgh, has a patio and small private garden. It is available to rent at R9 600 per month - click here to view.

Vermeulen says new residential developments in the Queensburgh area will offer investment opportunities to buy-to-let investors, and will alleviate the rental shortage.

“Demand for rentals are high, and landlords will secure tenants very fast if their units are well priced and in a good location.”

There are many young families in the area looking for secure homes, and they are willing to spend 10% to 15% more on homes located in security complexes.

Vermeulen says on the sales side, they have noted an influx of first-time home buyers entering the Queensburgh market.

This two bedroom apartment in Malvern, Queensburgh, is within a walking distance of amenities. It is available to rent at R6 000 per month - click here to view.

While Queensburgh is only 15 minutes away from Durban and Pinetown, properties here are much more affordable. People who are transferred from Gauteng to Durban are willing to move to Queensburgh because of the short commute to town.

Homes are priced from R520 000 for a two bedroom flat or simplex and from R800 000 for a three bedroom home. Anything priced under R1 million offering good value for money sells within a week.

“We have also noted that many properties coming onto the market in the R1.3 million to R1.6 million bracket in the Malvern, Escombe and Northdene areas. These homes generally have three bedrooms and two bathrooms, either with a granny flat or with potential for creating one,” she says.

Another ‘hot item’ on the list in Queensburgh is land. There are great opportunities for new developments, which is reflected in a large appetite for land of 1 000sqm and bigger - at prices from R500 000 to R2 million.

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