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Why you should invest in Ballito’s Palm Lakes Estate

16 Aug 2019

Over the past 18 months, Palm Lakes Estate on the North Coast in KwaZulu-Natal has seen its property trade curve turn upwards, with both the number and the value of properties being bought and sold increasing.

This four bedroom, two bathroom home in Palm Lakes Estate, Ballito, offers expansive open-plan living spaces, a covered deck, plunge pool and dam views. It is selling for R4.495 million - click here to view.

This is according to Tim Johnson, Principal of Seeff North Coast, who says that when this estate was initially launched just over 13 years ago, it was unknown and was perceived to be a distant estate offering entry-level affordability positioned ‘too far’ from Ballito.

However, Johnson says with the rapid expansion of the North Coast and more master-planned developments creeping closer towards Palm Lakes Estate, this estate is now regarded as part of Ballito’s many developed estate offerings.

He says while the initial home offerings in Palm Lakes were often equated to be entry level being priced at R600 000 to R700 000 for a two bedroom apartment in The Palms apartment blocks in 2011, today these apartments are selling for R1.4 million.

This three bedroom, two bathroom home in Palm Lakes Estate, Ballito, has a large deck with dam views, outdoor pizza oven and pool. It is selling for R4.95 million - click here to view.

Townhouses at Sunset Place development, which were launched at approximately R1.05 million, are being traded today in the R2 million price mark, and in 2013 newly-built and freestanding 250sqm three bedroom homes were being sold for R1.8 million, but in 2018 the average price for these sized homes was around the R2.8 million price mark.

The increase in semigration to Ballito has seen many higher-income professionals moving to this area, which has also resulted in a surge of new quality homes being built in the estate with a greater emphasis on architectural design, increased size and higher quality finishes, says Johnson.

“Most of the homes built here in the last few years have been sold to buyers wanting a new home designed for their family’s needs and future life stages,” he says.

This two bedroom apartment in Palm Lakes Estate, Ballito, is on the market for R1.45 million - click here to view.

”Taking all this into account, the property market in Palm Lakes has shown robust growth in both sales and increasing prices over the past four years. Homes that are over 400sqm in size are now being built and marketed for over R4.5 million.”

Johnson says this noteworthy change is also being reflected in the larger transactions now occurring in Palm Lakes Estate.

For example, he says this month an agent from Seeff concluded the highest sale conducted this year so far - being over R5.1 million for a contemporary multi-level home just over 400sqm. “Sales like these certainly illustrate investor confidence in the estate.”

This three bedroom, two bathroom apartment in Palm Lakes Estate, Ballito, has a covered patio and access to the communal pool. It is on the market for R1.95 million - click here to view.

With the expansion of retail centres both at the Tiffany’s Centre and also at the new Salt Rock city centre, the positioning of Palm Lakes has also become even more attractive as these commercial centres are easily accessible.

Palm Lakes could even be considered to be in a growth corridor - placing the estate in a very favourable position for further evolution.

KwaZulu-Natal will soon be welcoming the first Club Med Beach Resort to South Africa, and this will be located a mere 4km from Palm Lakes Estate on the coastline at Tinley.

According to reports, this Club Med Resort will have 350 rooms and 50 villas, with an exclusive beach in a beautiful bay.

The resort will be built on an area of 30ha and will offers the benefit of combining a beach destination with the ‘Big Five’ safari reserves approximately two-and-a-half hours north of Tinley and Palm Lakes Estate. This location is also approximately 20km from King Shaka International KwaZulu-Natal.

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