2011 a Good Year to Invest in Property in Umhlanga

2011 a Good Year to Invest in Property in Umhlanga

Private Property South Africa
Private Property Reporter

Umhlanga, with the same subtropical climate and warm sea temperatures as neighbouring Durban, is one of the most popular South African destinations for a beach holiday, and therefore property in Umhlanga will always be in demand.Despite the great weather and lovely beaches, Umhlanga is also in close vicinity to the new King Shaka International Airport outside of Durban, and is therefore now not only easily accessible for South Africans, but also for international tourists hoping to fly directly there. But if you thought that property in Umhlanga will therefore be way out of your reach, 2011 might bring some surprises.The residential property market, and especially leisure and luxury properties at the coast, or on golf courses, will most likely remain flat for the most of 2011, wrote Auction Alliance’s CEO Rael Levitt recently.This might be bad news for sellers, but it is very good news for buyers. Sellers will become more aware of slow selling rates, and of the fact that potential buyers might struggle to get the necessary funding to buy a property. This, combined with low demand, could therefore lead to sellers being more willing to negotiate on the selling price. With interest rates at their lowest level in more than 30 years, financing is currently more affordable than it has been in a long time. So if you are in a position to obtain finance, the year ahead will definitely be a good one to invest in property in Umhlanga. And since Umhlanga is such a popular holiday destination, you will never have trouble to rent out the property and hence turn it into a real cash cow.

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