Durban’s North Beach is cooking

Private Property South Africa
Lea Jacobs

The prices of properties along Durban’s beachfront are rising.

There are number of reasons that Mercer rated Durban 85th in its 2015 Quality of Living rankings recently: the city ranked higher than Cape Town (which ranked 91st) and Johannesburg (which ranked 94th), but one of the most important attributes linked to the city is its “plentiful recreational facilities”.

To be fair, Durban lost some of its allure and its main beaches became no-go areas for many some years ago. However, thanks to the 2010 Soccer World Cup the entire area underwent a massive revamp that has been well maintained ever since.

Enter Alt Tag Here

These days the beachfront comes alive with cyclists, joggers and walkers taking full advantage of everything on offer. The area is well policed and there is a plethora of restaurants and other entertainment facilities along the golden mile.

This is good news on all fronts, but perhaps the single most important aspect of the entire affair is the impact it has had on the price of beachfront properties.

Myles Wakefield, CEO: Wakefields Estate Agents, says

The beachfront upgrade has had a significant impact on the North Beach property market, both in terms of prices achieved and demand.

“We’ve seen some record-breaking prices. According to the deeds office, the average price is around R800,000, but we consider it to be higher because share block prices aren’t included in their assessment and is a strong component in the area.”

Bradley Bougardt, franchisee: Rawson Properties Berea, puts the average selling price at about R1,2m. He says that most buyers, especially retirees who are increasingly investing in the area, regard the strong police presence as an advantage.

Wakefield notes that the improvements have altered the dynamic in terms of property trends: “There’s a massive demand for rentals, so there’ll always be investors buying to let.” However, he says, more people are buying in order to live in the area. “It's a tourist hot spot, so the city is focused on crime and grime prevention and it is paying dividends. Today this strip offers a great lifestyle, and with a host of future developments on the table, it’s very promising for property values.”

This article originally appeared in Neighbourhood, Sunday Times.

Share:

Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

Braamfontein becoming more popular with young professionals
Young professionals who work in the nearby tech companies and innovation hubs are snapping up property in the area in order to live close to where they work.
Could Atlantic Seaboard rentals hit R200 000 p/m soon?
Considering that Zimbali (KZN, Dolphin Coast) has hit R100 000/month and the Atlantic Seaboard is already at around R170 000/month, then the R200 000/month mark does not seem too farfetched.
What homebuyers can get for R2 million in Gauteng’s top areas
For R2 million and even a little less you can buy a lovely home in a sought after area in Gauteng no matter where you choose to live.

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.
;