Waterfront property worldwide is probably the most sought-after of all real estate. The popularity of homes in the marina complexes dotted around the southern African coastline is testimony to this. There are at least six in the Western Cape, with two in the Eastern Cape. At Luderitz, Namibia, the Luderitz Waterfront development is designed to link the central business district of the town with the water's edge and includes a residential marina in the later phases.
So far, marinas have yet to be developed along the KwaZulu-Natal coast, as it is considered too inhospitable.
Waterfront property tends to be more expensive than non-waterfront property, and marina developments are no exception. However, prices at some marinas are surprisingly reasonable. For example, you can buy a four-bedroom family home at Marina da Gama near Muizenberg in the Western Cape for R1,7 million, and apartments are available from around R750 000.
While marina property values have generally increased, it can be difficult to predict whether a marina will be successful from the start. Several developments have been enthusiastically launched with eager buyers rushing to claim their place in the sun, only to falter and come to a halt until a second developer comes to the rescue.
Overall, marinas in South Africa have proved to be worthwhile investments, and there can be no doubt that they offer residents an idyllic lifestyle.
Moorings
Not all buyers in marina developments are boating enthusiasts. However, even if they don't intend to use the berth themselves, a mooring is considered a good investment, and most people opt to buy if moorings are on offer.
The options vary from one marina to another. At Knysna Quays, for example, moorings are sold as an integral part of the residential units. However, at the V&A Residential Marina at the V&A Waterfront in Cape Town, for security reasons, moorings are only available to homeowners.
At The Water Club in Granger Bay, however, moorings are frequently sold separately from residential units, and many berths are owned by non-residents. The original main breakwater was extended by 100 metres to create a marina with floating moorings, accessible without infringing on residents' privacy. At Port Owen on the Cape West Coast, all the homes have berths, and provision is made for non-residents in the harbour area.
Disadvantages
Idyllic as living on a marina might sound, there are some negative aspects. Fortunately, however, most can be overcome by paying attention to good design.
These include:
- Glare caused by the sun reflecting off the water.
- Marinas tend to be exposed to the elements and are windswept because there is little tree cover.
- Noise stretches further over water than on land, so you should ensure that doors and windows are well-sealed.
- While adding to the attractiveness of a waterfront at night, lighting can be disturbing to residents. If possible, visit the development at night to ensure you won't suffer sleepless nights because of ill-positioned lighting.
- Waterways must be designed so that there are no 'dead water' areas which can lead to problems with water quality.
Considerations
If you are considering buying property in one of the marinas in South Africa, take into account the following:
- Make sure the developer has enough capital to ensure the project will be completed on time.
- Insist on guarantees of completion and find out what happens if the project dries up halfway through construction. For instance, does it mean that you will be landlocked? This is particularly important if you are a boating enthusiast in a new development.
- How many homes are planned in total? When will construction start, and when will the complex be completed?
- Can you design and build your own home, and if so, will the architectural guidelines suit you?
- If you do design your own home, bear in mind factors like the prevailing winds, glare from the sun and noise levels.
- Remember that moorings aren't automatically included in the purchase of a home.
- If you intend to keep a boat, ensure that you will have easy access to boating facilities, such as lifting out and repairs.
- Find out how the levies are structured and what they cover. For example, do they cover the costs of maintaining the waterways? Marinas are more exposed to the elements than properties away from water, so maintenance costs tend to be relatively high.
- Find out who will be managing the complex, for example, a residents' association, a body corporate or a management company.
- Will the rules and regulations suit you?
Marinas
Some of the marinas on the South African coast where homes and plots are for sale are:
Marina da Gama - almost certainly the oldest marina in the country - was developed by Anglo American in the early 1970s and consists of 1 300 homes, most of which have water frontage. The sectional title apartments on the Park Island Quays constitute a separate development within the larger complex. Plot sizes vary from 900 m2 to 1 000 m2, with a few stands of around 600 m2.
Marina Da Gama: Property and houses for sale | Private Property
Marina Martinique lies on the coastal plain between Jeffreys Bay and Aston Bay in the Eastern Cape. Construction on the 85-ha development started in 1990, and the estate now consists of 384 residential stands and 475 group development units. Boats may be launched at any of the 36 slipways dotted around the estate. Apartments are available from around R1.7 m, with freestanding houses priced from around R2.6 m.
Marina Martinique: Property and houses for sale | Private Property
Knysna Quays combines a quaint fishing village and luxury residential development and has 128 waterfront houses and apartments set around a manmade waterway. Most homes have small gardens and private doorstep moorings, which form part of each property and may not be sold separately. Apartments with no private moorings can access berths in the nearby small craft harbour. There are more homes on an island in the centre of the marina connected by a bridge to the mainland.
Knysna Quays: Property and houses for sale | Private Property
The 45-ha Royal Alfred Marina lies in a naturally sheltered basin on the banks of the Kowie River in Port Alfred, midway between Gqeberha and East London in the Eastern Cape. Each of the 360 plots has its own walk-on mooring, fronting on wide, deepwater, natural stonewalled canals with direct access through sheltered breakwaters to the Kowie River and the Indian Ocean beyond. The marina is also part of a 250-berth small boat harbour. Freestanding houses are available from just over R5 m.
Royal Alfred Marina: Property and houses for sale | Private Property
The Port Owen marina in Velddrif, St Helena Bay, at the mouth of the Berg River on the Cape West Coast, consists of about 800 homes. The area is surrounded by wetlands and a bird sanctuary. Canoeing, riverboat trips, fishing trips and birding expeditions by boat are some of the attractions on residents’ doorsteps. Homes are available for sale from around R1.5m.
Port Owen: Property and houses for sale | Page 2 | Private Property
Marina homes offer a stable property investment avenue, and the options listed above are worth considering.
Writer: Sarah-Jane Meyer