He says they are inundated with enquiries from the HNW buyers semigrating to gated estate living or upmarket sectional title properties close to the beach.
These buyers are confident and relaxed about investing their money in these high-end properties, so much so, that we have seen significant prices paid for luxury properties this year including a penthouse in Umhlanga Rocks sold by Seeff R27,5 million.
The market has remained very active specifically in the lower priced R2,5 million to R5 million range and also the R10 million to R30 million price bracket in the gated estates and upmarket beachfront sectional title blocks.
Aside from local buyers, the highest demand is from buyers from Gauteng and other upcountry provinces who are either looking to move to the area permanently, or to invest in a second home to take advantage of the WFH (work from home) trend to escape the confines of the pandemic.
He says further that popular properties include holiday homes close to the beach while semigration buyers look for a mix of security and lifestyle, hence the demand for gated estate homes and sectional title properties.
Umhlanga has always been a sought-after holiday destination with great infrastructure including the Gateway Complex, restaurants and proximity to Durban, the north coast and King Shaka International Airport.
People want to holiday and live, he says. Umhlanga is a sought-after, upmarket holiday destination and popular permanent residential area with all amenities on your doorstep. These include top schools and universities to choose from, thus making the area ideal for families, he says further.
Umhlanga also has beautiful beaches, and an ideal climate and amazing restaurants. More importantly, he adds, it is safe and clean.
It is a great time to buy in Umhlanga. Properties have always maintained their value and in general have increased largely over the years with current growth at around 5% per annum depending on the property and price category. There is also an active rental market with landlords achieving good rental returns.
Finally, says Botsis, take good advice from an experienced, knowledgeable agent from a top brand. The market is well stocked with new listings coming through on a daily basis which means buyers have plenty to choose from while sellers need to ensure they do not overprice given the abundance of stock and increased competition in the market.