Property in East London Could Become Money Earners

Property in East London Could Become Money Earners

Private Property South Africa
Private Property Reporter

Property in East London, as in any other coastal town, remains very popular. Not only does property in coastal towns or cities make for excellent holiday homes, but it can also become a money earner for you. Over December and Easter vacations holiday makers stream to coastal towns, and accommodation becomes the prime commodity. Depending on the size and location of property in East London, it could easily be rented out for anything from R200 per night, to thousands of Rands per night. Large family homes that are only walking distance to the beach are almost priceless, especially in East London, known for its semi-tropical coast. City people on holiday do not necessarily want to get into their cars to get to the closest beach.Apart from its lovely coast, East London is also famous for the discovery of a coelacanth in the 1930’s. The town has the oldest public aquarium in the country, and is only two hours’ drive from the Addo National Elephant Park.Remember though, that holiday homes have to be furnished, and depending on the furniture, the rental price per night could either go up, or down.And while holiday makers will help you pay off your bond, you will have the property in East London to yourself for the rest of the year. Apart from an excellent money earner, properties in coastal towns are also seen as great investments, especially with a view on retirement. Towards retirement you can either consider to move to your coastal home, or to sell it, should you need the money instead. Properties close to the coast continue to appreciate in value, ensuring that no matter when you plan to sell the house, you could be certain to get a good price on the property.

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

Commercial property market insights - It's not all doom and gloom out there
The commercial property market has the potential to rebound depending on a number of factors.
Interest rate disappoints, but South Africans will buy property this festive season, says Seeff
Despite the South Africa Reserve Bank's decision to keep the interest rate at 3,5% South Africans are predicted to still purchase property this festive.
Stable interest rates lead to housing market boom
There's a huge spike in homebuyers in South Africa.
What it means to buy a property in distress
Everything you need to know about the process of purchasing a distressed property.