Semigration fuelling demand for rental property in Ballito

The fact that the permanent population of Ballito in KwaZulu-Natal has more than doubled from 12 000 to 30 000 in just over a decade, has created a big rental demand in this coastal town.

This 63sqm ground-floor apartment on the promenade in Ballito Central has two bedrooms, one bathroom, direct access to the beach and is being sold furnished. It is on the market for R2.2 million - click here to view.

Mark Johnson, Seeff’s Licensee for the North Coast, says even though the rental market here is buoyant, stock is a major issue - especially with regard to property in gated communities priced from R8 000 to R18 000 per month.

This three bedroom, two bathroom apartment in Ballito Central has sea views and is available to rent at R15 000 per month - click here to view.

“We had quite a bit of new stock at the end of 2018 due to new developments, but properties that were priced right for the market were snatched up quickly.”

Johnson continues that the North Coast has been earmarked for massive residential, commercial and resort development estimated at around R76 billion that will bring even more people to the area.

This double-storey freestanding home in Seaward Estate, Ballito, has top finishes, four bedrooms, three bathrooms and a double garage. It is on the market for R2.6 million - click here to view.

“While we expect more stock to come onto the market in the medium term, rental demand is predicted to increase even further as a result of the growth in the area.”

Johnson says families are semigrating to Ballito for the lifestyle by the dozens - many of whom are still working in other provinces and need to commute to work weekly. Regular commuting is made possible by the King Shaka International Airport that is around a 20-minute drive from Ballito.

“Many of them choose to rent while deciding where to settle,” he says.

Johnson says investor buyers who purchase investment properties in the lower end of the market enjoy a better return on investment than buyers who invest in the top end.

This two bedroom, one bathroom apartment in Ballito Central has beautiful finishes, a covered verandah and more. It is on the market for R1.695 million - click here to view.

“We are a growing market, and this makes it a fairly safe purchase for an investor. There is also good capital growth to be had when investors buy smart - regardless of the price bracket.”

Johnson says like in many other areas in the country, tenants in Ballito are prepared to pay a premium to live in property within gated communities - sometimes up to between 25% and 40%.

This 138sqm two bedroom, two bathroom apartment in Simbithi Eco Estate, Ballito, has a spacious balcony and is available to rent fully furnished at R15 500 per month - click here to view.

“If you would like to let your investment property, we recommend a managed lease agreement by a reputable company,” he says. “While there would be little cost difference to the landlord, professional agencies are experts on all the challenges associated with rental management.”