Find out about property in Florida Road from local estate agents.
What do you love about this area?
Today “less time spent on the road” is one of the property market drivers. Whether it’s proximity to children’s schools or to work, it’s considered high priority when purchasing. Florida Road ticks that box with numerous top private and government schools within walking distance, plus easy access to all the key arterial routes to commercial hubs. It’s also the region’s entertainment hub with innumerable restaurants, art galleries, retail and service essentials. It’s also a significant part of Durban’s past, with restored buildings, appealing architecture, and traces of history leading right up to the green spaces of Mitchell and Jameson parks.
What should tenants expect to pay for a rental property in this area?
From a rental perspective, Florida Road sees great returns on investment together with the subsidiary roads that branch off it such as Gordon Road, Montpelier Road, (Lillian Ngoyi Road), Lambert and Innes Road. A one-bedroom, fully furnished apartment goes for R8,500, while sprawling mansions on Innes, Lambert and Montepelier can fetch up to R100,000 per month. On the commercial side, premises that have front road exposure onto Florida Road see rentals of between R180-R250/m2. Florida Road is the heart of Morningside and through this it has uplifted roads and areas that were once not so popular.
What sort of property is available in this area, and what type of buyers look for homes in this region?
Florida Road is a vibrant street and its warm vibe and beautifully preserved historic buildings make it one of Durban’s trendiest streets. Residential property on Florida Road is mainly sectional title and is very popular with young professionals. The adjacent suburb of Windemere offers a mix of sectional title properties and older freestanding houses in the mid-market range which attract young families starting out. Essenwood, which lies to the west, is one of Durban’s most sought-after suburbs as it is home to several of Durban’s top schools, and properties here range from around R3m all the way to R20m mansions.
This article originally appeared in Neighbourhood, Sunday Times.
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