La Lucia is the perfect suburb for those looking for beauty and convenience.
Lightstone statistics record that 106 properties in La Lucia on Durban’s North Coast, with a collective value of over R341m, have been registered at the Deeds Office over the past 12 months. Of these, 29 were on estates, 43 were freehold and 34 fell under sectional title schemes. According to the stats, the average price paid for a freehold property was R3,34m and for a sectional title unit, R2,99m.
“La Lucia has expanded in the past decade or so, particularly developing a good spread of gated estates, sectional title units and small complexes – some palatial on the slopes with sea and city views, others more compact and affordable,” says Myles Wakefield, CEO, Wakefields Real Estate.
“Being elevated up on the Ridge or right down on the beachfront, many of the freestanding homes have glorious sea views. La Lucia has the great advantage of being in close proximity to the commercial hubs, and blue-chip head offices, on the ‘Ridges’ (La Lucia Ridge and Umhlanga Ridge) as well as King Shaka Airport.”
The suburb’s central location undoubtedly acts as a draw card and Dina Porteous, CEO, Keller Williams Ignite – KZN, says demand for well-priced homes in this area remains high.
A property usually sells within three weeks, if it's priced correctly.
She notes that it's difficult to place an average price on property as values change from street to street and from complex to complex, and often depend on the views on offer. “Buyers can expect to pay anything from R2m to R7m, although, it has to be said, those looking at property above the R5m price band are often drawn to nearby Mount Edgecombe and Umhlanga.”
When asked if the suburb offered good value for money when compared to other nearby, upmarket suburbs, Wakefield noted: “If you compare prices to those in Umhlanga, yes, La Lucia offers good value for money. There are, however, prestigious pockets of this suburb – like Lower La Lucia – which can fetch similar prices to those found in Umhlanga.”
This article originally appeared in Neighbourhood, Sunday Times.