uMdloti: A Holiday Investment Haven
Category Residential Sales
uMdloti is characterised by sweeping sea-views, exotic palm trees and revitalising ocean breezes that greet those who choose it as a place to create a life or enjoy as a holiday destination. The coastline stretches 5km from the North Beach area to South Beach, and it is this natural feature that is driving residential sales in the area.
According to Kim Jardine, sales agent at Chas Everitt International in uMdloti, sales have escalated noticeably in the past three months, with more than 35 sectional title units in the over-R3m category having been sold.
The KwaZulu-Natal town just north of Durban is attracting immense interest from Johannesburg and Cape Town buyers, as well as international clients from Spain, the US and the UK who want to benefit from potentially high returns on local holiday investments.
“Consequently, homes overlooking the beach and with sea views are most in demand,” she says.
A vibrant coastal town
With short-term holiday letting investments taking over the town, she has noticed another trend among the recent buyers in the North Beach area: most are in the 36-49 age group, and recent Lightstone statistics would seem to confirm this.
These show that from September 2016 to August 2017, buyers aged 36 to 49 accounted for 35% of all purchases in the area, while buyers aged 18 to 35 accounted for 31% of purchases.
Jardine says this second cohort accords with the fact that North Beach is uMdloti’s most vibrant area, with a youthful atmosphere, and it is here that most investments are being made.
“Buyers are investing in these homes as they are set in an idyllic holiday location that offers restaurants, swimming beaches and tidal pools, and is also centrally situated in relation to key towns and amenities."
In addition, uMdloti represents an affordable alternative to the nearby towns of uMhlanga and Ballito, which are 15 minutes’ and 29 minutes’ drive away via the N2.
A perfect holiday home investment
Sectional title apartments and townhouses make up most of the residential stock in the town, accounting for some 70%. And it is this property type that is currently boosting the residential market and fuelling the holiday-buy-to-let sector.
One example of units currently for sale is a two-bedroom apartment with fabulous sea views that is currently for sale through Chas Everitt International for R1,7m. Located in the secure Club Mykonos complex, the spacious home is on the ground floor and also features a wrap-around patio. There is a pool and braai area in the complex, which has 24-hour manned security.
uMdloti’s incredible holiday appeal is fuelling the residential sales market as more buyers invest in local holiday homes. These properties are relatively affordable and capitalise on the coastal town’s natural beauty as most lie on the door-step of stellar beaches. This coupled with uMdloti’s vibrant atmosphere is expected to attract even more buyers who recognise the enormous potential just waiting to be unlocked in this location.
Author: Chas Everitt International Property Group