If the proposed South Coast toll road - running between East London and the South Coast of Durban - goes ahead, now’s the time to invest as property prices are bound to sky rocket.

Gerrit Venter of Lew Geffen Sotheby’s International Realty Margate says, “There are plans in the pipeline for a new toll road between East London and the South Coast – if this goes ahead it will mean more through-traffic for the area which will boost the local economy, drawing increased number of holiday makers as well as developers.

“At present those who travel to the Eastern Cape from up country usually go via Bloem as this has always been the most direct route. The new road will definitely encourage holiday makers to take a more scenic, coastal route instead.

“It is a matter of time before the area undergoes a complete make over.

“Currently, property in the area costs 10 -15% less than that along the North Coast and, as a result the South Coast provides an excellent place of entry for first time homebuyers. Although the area is in need of rejuvenation the amount of commercial investment is sure to impact on its popularity and improve infrastructure.”

Venter says although they aren’t common it is possible to still find 2-3 bedroomed homes  with distant sea views for as little as R300 000 in Ramsgate and Margate, along the South Coast of KZN.

“Those who buy these properties as investments to let are generally able to make rental returns of around R2500/ month - which usually starts to cover bond repayments around 2-3 years after purchase. This is unheard of in the majority of seaside towns in SA.”

For more information contact Gerrit Venter of Lew Geffen Sotheby’s International Realty on 082 566 6512.

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ISSUED BY:      LANGE STRATEGIC COMMUNICATIONS
ON BEHALF OF:   SOTHEBY'S INTERNATIONAL REALTY ®
For further information please contact Barak Geffen at Sotheby's International Realty South Africa on 082 600 8522 or Robyn Creer at Lange on (021) 448 7407