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| North Coast recovers and development and demand grow |
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RESIDENTIAL property sales have picked up in the Ballito area of the KwaZulu-Natal North Coast, says Clive Greene, area principal for Pam Golding Properties, which in January concluded sales transactions worth R15 million.
He says correctly-priced properties are selling within two months, a dramatic improvement over the past year or so when the average selling period was eight months.
"There is a marked increase in activity, although buyers are still cautious. What is interesting is a notable upturn in enquiries for leisure apartments, a market which, in line with national trends, was adversely affected by the economic downturn. However, there is no doubt that our Dolphin Coast offers a very sound investment for property buyers," says Greene.
"In Ballito two new shopping malls are also under construction, the 20 000m2 Ballito Bay Mall and Ballito Junction, with the same area under construction but with space for further expansion."
In addition, a new 10 000m2 shopping centre is being built at the Salt Rock off-ramp which is due for completion in November, providing a much needed centre for an area which is growing rapidly.
"It's hardly surprising that this area of the North Coast is so popular among home buyers. It offers sound business opportunities, an exceptional lifestyle, warm seas and easy access to the Big Five and scenic Drakensberg." Greene says in Ballito, Salt Rock, Sheffield and Blythedale numerous houses are either being demolished and rebuilt or are undergoing renovation.
This is contributing to the aesthetic improvement of these areas and helping to meet the ongoing demand for residential accommodation.
"The coastal village, of Blythedale, just 15km from Ballito, is definitely an area to watch. Already new buyers are moving into the area and once the magnificent Blythedale resort comes on line the developer, eLan, has promised a massive marketing programme.
"In addition, another development, Sovereign Sands, offers unparalleled beachfront living, with units only 30m from the beach," Greene says.
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| Sunday Weekend Argus - 28 Feb 2010 |
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