Durban - the fun place to live

Private Property South Africa
Press

Durban, the second-largest city in South Africa with the largest seaport is in the midst of a massive upgrade programme.

The five-year plan will incorporate a giant theme and water park, a revamp of the cruise terminal and the transformation of all the main beaches into Miami-style tourist hubs. Sporting tourism and the construction of the sports academy is a major focus.

Since the initial upgrading of the promenade, the city has been transformed into a family and tourist destination. Construction continues along the beachfront, northwards from Blue Lagoon to Country Club Beach Resort. New parking areas, landscaping and dune rehabilitation, kiosks, restaurants and new paddling pools are all part of the plan.

All this bodes well for the property market says Jawitz Properties Durban franchise Principal Amod Osman.

Residential prices are now on the rise after a somewhat lackluster couple of years. The year-on-year statistics point to an 8.8% increase

he says.

Out of a population of four million the residential market is split between 70% of those preferring to live closer to work, 20% holiday makers and 10% retirees looking for a home on the beachfront. This year alone, the demand for holiday apartments has increased by 25%, fuelled by up-country buyers wanting a seaside lifestyle with clean and safe beaches and fun things to do with the family.

Prospective buyers are spoilt for choice, depending on their income. North Beach is considered up-market with three bedroom apartments in the R2.5m range. “The record so far this year was taken by a R4m, four bedroomed home with a swimming pool and beautiful sea views. It must be remembered, however, that buyers tend to commit to a sale once they are comfortable that the price is market related and they see value in their purchase,” says Osman.

South Beach offers good value mainly because of its proximity to Ushaka Marine World where prices are affordable. The average apartment with two bedrooms, two bathrooms, and safe parking starts at R650 000. The Esplanade and mid South Beach have some excellent properties in the lower to middle bracket.

Being a holiday destination, it is no surprise that the rental market has increased 10% year-on-year. At the lower end, a one bedroom flat costs R4500 per month, whereas a three to four bedroom apartment could range between R8000 and R10 000. A block of flats, the Tafta on South Beach, has beautiful views and deals exclusively for the elderly.

“Despite all the fluctuations on the economic front, the intrinsic value of homeownership is inherent in us all and in the long-term, property will remain in demand as a sought-after asset in any portfolio,” he says.

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Explore neighbourhoods mentioned in this article

Durban Central
Beach meets business
Durban Central is a diverse, colourful neighbourhood that includes the beachfront areas, the Berea, Morningside, Glenwood, Musgrave and the CBD. The beach is the biggest attraction and locals flock the promenade to cycle, run, surf, swim, fish or just catch some sun. There are also incredibly lush parks and open spaces dotted around the neighbourhod for residents to take advantage of. The nightlife in Durban Central is exciting with numerous bars, pubs, restaurants and night clubs in close proximity to each other. As its name implies, Durban Central's location makes it convenient to get to any of the other areas around Durban.
Durban North
Small sophisticated suburb
Durban North is an established small suburb where the people are friendly, and the surroundings are beautiful. It is a family-oriented area with many activities available. Situated between Durban central and Umhlanga, all amenities and schools are located only minutes away. The area boasts spectacular sea and city views. Although it is centrally and conveniently located, living in Durban North feels very much like living in a small town.
Durban South
Seaside suburbs of the South
Durban South has a very family-like feel to it, with spacious homes at affordable prices. Enjoy quiet neighbourhoods and great community living, amongst a diverse range of cultures. The area feels warm and welcoming to anyone and everyone. This part of Durban offers convenient access to beaches, malls, and good schools. It's suburban bliss, just a stone's throw away from the city of Durban. It's the ideal place for those wanting to retire near the seaside.
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