Learn more about Sibaya from local property experts.
What is happening in the market in this area?
The northern belt of Umhlanga through to Sibaya is without question the most buoyant property development area in KZN. The Sibaya precinct has become the most exciting growth node in this northern strip. The area promises to offer a wonderful mix of commercial, retail and residential opportunities, all beautifully landscaped within a self-sufficient boulevard.
The area is mushrooming with over R5bn worth of investment expected to pour into the property market over the next few years. The demand is high, the sentiment positive, and this particular growth area is bucking the trend of market stagnation being felt in other areas.
How has this area changed over the past five years?
The past five years have seen tremendous growth in the Umhlanga area with a plethora of new residential and commercial developments taking place. The vast green belt between the Umhlanga New Town Centre and Umhlanga Village, also known as Ridgeside Umhlanga, has been the topic of discussion at many a dinner table.
Over the past five years, the commercial node has been developed extensively with hotels, banks and the legal fraternity among the array of service industries establishing themselves in this high-growth area. The Refinery, which launched on 19 March, is the first upmarket residential component introducing a cosmopolitan, work-play-live lifestyle. This development in the only gated estate earmarked for Ridgeside will set a new standard in style and sophistication.
What type of buyer is drawn to this area?
The general day-to-day buyers in the area are families with at least two children, some more – the majority of the breadwinners in these families are self-employed. This area also attracts professional buyers like doctors who are specialised in their industry. Izinga buyers are well-educated about the area – it is therefore not difficult to convince them to buy in the area as they know it is sought-after. We furthermore have a change of mind-set at Izinga whereby buyers are open to buying in a non-gated suburb. We do, however, have a guardhouse and security patrols in the area.
This article originally appeared in Neighbourhood, Sunday Times.