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These Durban suburbs are ‘hot property’ with buyers and investors

14 Aug 2019

Property News

Brought to you by Property24

Residential property buyers in Durban have been galvanised into action, with realistically priced homes selling within a week or two, and an apartment in sought-after and trendy Florida Road in Morningside even snapped up within an hour of the listing going live.

This three bedroom, three bathroom home in Morningside, Durban, offers a spacious lounge, verandah and an undercover patio with garden. It is selling for R4.25 million - click here to view.

This is according to Michelle Burger, Pam Golding Properties’ area principal in Durban, who says that renowned Florida Road has transformed into a vibrant hub in high demand, with its eclectic vibe with sidewalk cafés, array of restaurants, boutiques, bars, clubs and historic buildings.

“The success of the Florida Road hub has impacted positively on residential property in the vicinity,” says Burger.

“The property sold in record time was a two bedroom sectional title apartment which fetched R1.45 million. We are certainly seeing sectional title units much more in demand, with apartments in older blocks going from R900 000 to R1.3 million for two bedrooms.”

This three bedroom, two-and-a-half bathroom home in Windermere, Durban, is on the market for R3.35 million - click here to view.

She says interest has picked up in the marketplace across the board, with buyers putting in offers, including cash acquisitions of two four bedroom homes which sold for R3.3 million and R3.146 million respectively.

“The Windermere and Morningside areas remain consistently strong, while Glenwood has also experienced a slight uptick in house sales. In Morningside, where average prices have increased due to high demand, homes in the price band below R3 million are sought after, however, we are concluding sales in the higher price categories and are currently negotiating a sale for just below R9 million. Apart from Florida Road, addresses such as Montpelier, Innes and Lambert Roads remain popular,” says Burger.

This three bedroom, two bathroom apartment in Morningside, Durban, offers a new kitchen, 24-hour security and access to a communal pool. It is selling for R1.55 million - click here to view.

Due to the growing demand in the Morningside and Windermere areas, a number of residential developments have been brought to market in recent years - mainly taken up by young buyers seeking modern apartments in a convenient, central location with easy access to all major transport routes.

In the city centre, investors remain interested, but always look for a bargain, such as one bedroom units selling for under R150 000.

This one bedroom apartment in Windermere, Durban, is on the market for R995 000 - click here to view.

Encouragingly, Burger says the eThekwini Municipality sees the potential in Durban’s central area, and, together with the private sector, is making a massive R62 billion capital investment in its Inner City Regeneration campaign, which is expected to transform this key commercial hub.

“Durban’s city and beachfront areas have vast untapped potential, and it is gratifying to see business and government working together to achieve these goals. The Durban promenade has been a wonderful success and we look forward to seeing the final stage completed,” she says.

This one bedroom apartment in South Beach, Durban, is close to many amenities. It is on the market for R112 000 - click here to view.

Commenting on the Durban beachfront, Burger says in South Beach, two bedroom apartments remain in demand, mainly in the price band up to R700 000.

“People like the lifestyle and are upbeat regarding the nearly-completed promenade improvements. In addition, one of my new agents has had great success in selling share block bachelor units in a block called Park View, ranging in price from R80 000 to R150 000,” she says.

This one bedroom apartment in Durban Central, KwaZulu-Natal, is selling for R385 000 - click here to view.

Among other positives for Durban is the Go!Durban Integrated Rapid Public Transport Network which is set to start operating in September 2019, with the route from Pinetown to Bridge City already launched and operational.

The city has been in the headlines of late, with the ICC winning top honours towards the end of 2018 at the World Travel Awards, being named Africa’s Leading City Destination and Africa’s Leading Meetings and Conference Destination, while the Port of Durban was hailed as Africa’s Leading Cruise Port. In addition, King Shaka International Airport received accolades in this year’s 2019 Skytrax World Airport Awards for Best Regional Airport in Africa and Best Airport Staff in Africa.

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