Durban North’s Freestanding Appeal
Category Property News
Although sectional title-homes in secure complexes and estates are the most popular property type in the current South African landscape, Durban North is retaining its freestanding home allure. Latest sales indicate that freestanding homes are driving the market in the suburb, with very little demand for other property in the area.
Freestanding homes account for an incredible 86 percent of all residential sales, whilst apartments and complexes account for just 9 and 5 percent, respectively.
In terms of rental property, the numbers a relatively more balanced, however freestanding homes remain the popular choice. Of all properties rented within the last year, freestanding homes accounted for 58 percent, followed by apartments and complexes comprising of 25 and 17 percent, respectively.
The attraction of freestanding homes in Durban North is instantly clear as soon as one enters the suburb. Exuding luxury and an upmarket lifestyle, these homes lie on the door-step to breath-taking beaches and a wealth of new developments that are set to not only boost the values of these residential properties significantly, but place the suburb and its surrounding areas in a new urban league, defined by opulent mixed-use developments.
A spate of new developments taking place around Durban North will serve to increase property prices, home-buyer and investment demand and transform the landscape.
Burgeoning just 15-minutes away from the suburb, the most pronounced and highly anticipated new developments include Oceans uMhlanga and The Pearls of uMhlanga. Both mixed-use developments exude cutting edge sophistication and ultimately, convenience. The 3.1 Billion Oceans uMhlanga development, will comprise of three residential towers piercing through the skyline with a total of 444 apartments, a three-storey shopping mall and a 200-room five-star hotel.
Alongside this, The Pearls of uMhlanga will stand side-by-side with Oceans in pure opulence. Seated on 50 000 sqm prime beach-front estate, the Pearls development is due for completion in 2018, and will consist of 422 five-star residential apartments towering 32 floors high. Its exclusive multi-level boutique mall - Pearls Mall - opened its doors in December of last year. Its anchor tenant includes Food Lover’s Market, with restaurants including; Casa Bella, John Dory’s, Cattle Barron and Cafe La Plage.
Accompanying these massive undertakings and providing commercial options is the new Park Square located in Chris Saunders Park. The R1 Billion mixed-use development in uMhlanga is a hybrid of office and retail precincts. Financed by Nedbank, the development will serve as the bank’s flagship campus in KZN. Following architectural guidelines that are in-line with eco-friendly technology, Park Square will have a 4-Star Green Rating. Development has already begun, with occupation planned for 2018.
Durban North is ideally positioned close to many new urban developments that undoubtedly serve to increase the prices of property as the area transforms to meet the needs of an urban populace. Coupled with this, the suburb’s close proximity to freeways including the N2 and M13 places it in a central position to uMhlanga, Mount Edgecombe, The Duban CBD and the King Shaka International Airport - all factors that increase its desirability as a residential destination.
With Durban North seated just minutes away from Oceans uMhlanga, The Pearls of uMhlanga and Park Square, residents will have a diversity of new attractions to indulge in, whilst reaping long-term investment benefits. For premium freestanding homes in Durban North, Lew Geffen Sotheby’s International Realty has a selection of choices that meet a growing demand and place home buyers in a location that is affluent and elite having maintained its pedigree for years.
Author: Lew Geffen Sotheby’s International Realty