Steady demand for Berea property in Durban

Private Property South Africa
Press

Home to some of the oldest and stateliest Victorian and Edwardian houses in Durban, the Berea also boasts a diverse selection of Art Deco and modern freehold homes, sectional title estates and flats.

With the excellent schools, easy commute to the city and the proximity of the University of KwaZulu-Natal, Berea appeals to a wide target market. This means Berea attracts a steady stream of buyers in various price brackets, which has ensured steady growth over the years.

“Property prices in Berea have always been on the rise,” says Mahomed Jooma, sales agent, Rawson Property Group’s Berea franchise.

Even now, with interest rate increases and other economic pressures affecting consumers’ buying power, demand is higher than supply, and properties are still experiencing growth.

Jooma says that the most sought-after properties in the Berea are lock-up-and-go flats, with buy-to-let investors particularly active in the under-R750,000 range (below the transfer duty threshold). “Property investment can be a good hedge against the devaluation of financial assets, which makes buy-to-let a very attractive option, especially if you can get away without having to pay transfer duty.”

That said, capital growth in Berea – and across the country – is unlikely to be as high as it was in 2015, says Jooma.

This article originally appeared in Neighbourhood, Sunday Times.

Explore the Durban Central neighbourhood here:

Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!
List your home privately

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

Further rates cut could be key for ailing housing market
Analysis by a leading bank indicates that the housing market continues to weaken. Further interest rates cuts are key to the market turning around.
Buy-to-let Trend on the Increase
Buy-to-let investment in residential property is indeed on the increase, according to figures from the Rawson Property Group's sale franchises. "The number of buyers now buying for investment purposes has almost doubled in ...
Five top picks for buy-to-let investors in Gauteng
Although the latest data available from StatsSA puts the current rate of rental inflation at just 5,05%, there are several pockets of high demand in Gauteng where rentals are rising faster than ...

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.
;