South coast next to boom in KwaZulu-Natal

Posted On Thursday, 18 November 2004 02:00 Published by
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KWAZULU-Natal's mid-to-upper south coast may still be short of the blazing new development path of the north coast.

KWAZULU-Natal's mid-to-upper south coast may still be short of the blazing new development path of the north coast, but the region is gearing up to mount a serious challenge to the country's top coastal spots for home buyers, investors and retirees, says mortgage origination company PA BetterBond.

Rudi Botha, CEO of PA BetterBond, says the Amanzimtoti-Scottburgh axis, long overshadowed by the Umhlanga-Ballito region, has raced into new development popularity through pricing.

Botha says that while Umhlanga offers a market entry of R1m or more and Ballito about R850000, the south coast is courting buyers with a starting price of R650000.

He says confirmed plans for new development in the region increase almost daily with between 400 and 500 units destined for Amanzimtoti alone, a further 90 in Illovo Beach, and numerous smaller pockets in Scottburgh, restricted by the town's lack of suitable development land.

Botha says developments still in the planning stage will upgrade the region. Important among these is the proposed R1,5bn transformation into mixed use of the Umbogintwini golf course and village, north of the Amanzimtoti central business district.

The planned Arbour Town will provide another 800 units through conversion of existing homes and new stock.

Botha says the proposed 90000m² Galleria retail centre will have the same positive effect in encouraging new development as Old Mutual's Gateway mall has had on Umhlanga.

Other residential developments include the 214-unit Tuscany village near Illovo Beach, while two large projects of about 130units are planned for the Scottburgh region.

Botha says a further development, incorporating a 40-unit retirement village, upmarket homes and a small shopping centre, is expected to be given the green light soon.

Further south of Scottburgh, two projects of 30 to 40 units are expected to be offered to the market soon. Botha says the Pennington area is also expecting developments, with a 100-unit project planned south of Rocky Bay and another 200-unit estate also in the area.


Publisher: Business Day
Source: Business Day

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