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Why home buyers and tenants love Durban’s Berea

21 Jun 2019

The trendy area of Berea in Durban, KwaZulu-Natal, made up of Windermere, Musgrave, Essenwood, Morningside and Glenwood, has often been likened to Melville in Johannesburg - and more recently - also to Braamfontein.

This two bedroom, two bathroom home in Glenwood, Berea, has open-plan living areas leading out to a verandah and deck overlooking the pool. It is available to rent at R13 500 per month - click here to view.

Not only are these areas neighboured by bustling central business districts and sought-after as student accommodation, but Melville and Berea are also home to many heritage and period-style homes that appeal to investors for restoration and renovation purposes.

While Berea holds a sentimental pull for many residents who buy and rent here, the proximity to great schooling, essential amenities, places of employment, worship and tertiary institutions adds to its appeal and makes it a hotspot to a variety of people.

This 111sqm apartment in Essenwood, Berea, has three bedrooms, one bathroom, a lock-up garage, covered parking bay and more. It is on the market for R1.95 million - click here to view.

Roger Hoaten, Seeff’s Principal at this branch, says Berea offers many rental property options, ranging from large freestanding and art deco homes to sectional title developments and affordable apartments.

“The monthly rental price range is vast, starting from around R4 000 per month up to R20 000 per month, but the most demand and stock shortages occur for one and two bedroom apartments in the R4 000 to R6 000 lower end of the market - in areas bordering the commercial zones of Berea and Glenwood,” says Hoaten.

This beautiful family home in Morningside, Berea, has been renovated and offers five bedrooms, four-and-a-half bathrooms, numerous living areas, an expansive entertainment patio, pool and more. It is available to rent at R23 000 a month - click here to view.

“Demand at the top end of the market in the R15 000 to R20 000 price range is slow, but we have recently fetched a monthly rental of R25 000 per month in Musgrave to a professional.”

Hoaten says the decline in creditworthiness is as evident here as it is in many other areas across the country, and it is not uncommon for the branch to receive 20 applications or more for a rental property with a majority of applicants being turned down due to their credit scores.

This four bedroom, three-and-a-half bathroom home in a quiet cul-de-sac Glenwood, Berea, has numerous living and reception areas, a covered verandah, pool and more. It is on the market for R3.195 million - click here to view.

“While we expect demand to continue rising, supply is expected to be constrained due to a growing household debt burden. Urban creep is keeping rental prices in Berea low, and the lack of university accommodation is also creating demand from students for affordable rentals.”

With regard to sales, Hoaten says Berea continues to find favour among buyers at both the lower and upper ends of the price spectrum.

This 59sqm apartment in Morningside, Berea, has two bedrooms, one bathroom, an enclosed balcony and views. It is on the market for R750 000 - click here to view.

“Seeff Berea enjoyed a record month in May, dominated by sales of homes in the upper price bracket of R3 million to R10 million. These sales say a lot about the popularity of the Berea, which continues to offer excellent value, particularly measured against the northern suburbs, as well as the very popular Upper Highway area,” says Hoaten.

This 160sqm maisonette in Essenwood, Berea, offers two bedrooms, one-and-a-half bathrooms and more. It is available to rent at R12 000 per month - click here to view.

“The development of the Musgrave, Essenwood and Morningside areas continues unabated with a rash of upmarket duplex-style units and uniquely designed low-rise apartment blocks featuring drive-up ramp access. A new mixed-use shopping centre and apartment complex is being built by prominent developers FWJK in Montpelier Road and the revitalisation of the Florida Road ‘high street’ in Morningside continues.”

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