The growing number of exclusive lifestyle high-end coastal estates on the KwaZulu Natal Coast has added a new dimension to the property market. Estates such as Zimbali, Simbithi and Hawaan are now ranked among the top estates in the country.
According to Seeff Dolphin Coast licencee Andreas Wassenaar, estates such as Zimbali and Simbithi are a primary target for high income earners, strongly boosted by the semigration and work from anywhere trend, but are also sought for second homes and investment properties.
These high-end coastal estates also attract international buyers including those from the wealthy African countries.
ZIMBALI ESTATE IS HOME TO THE HIGHEST NUMBER OF LUXURY HOMES IN KZN
Wassenaar says Zimbali ranks with the Atlantic Seaboard as the top high-end coastal estates for high-net-worth buyers and investors. The estate is home to 650 properties valued upwards of R10m with 150 of these valued above R20m.
Many wealthy individuals from Gauteng own property here as second homes. Others have settled their families in the estate and commute for business to Johannesburg and elsewhere. He says while factors such as two years of the pandemic, the 2021 July-Riots and recent floods have affected the market, Zimbali has held up well.
An assessment of the market over the last year shows that Zimbali achieved sales worth almost R487m at an average price of R7,1m, fairly evenly split between freehold and sectional title properties.
The average selling price for freehold homes is around R9m putting the estate among the top high-end coastal estates in the country. The highest price achieved was R17,2m (although somewhat lower than prior years). On the other hand, the highest price for sectional title property achieved is a notable R11m while the average price stands at R5,25m for a sectional title unit.
SIMBITHI ECO ESTATE TOP END PRICES LIFT
The Simbithi Eco Estate achieved a notable 134 sales worth close to R685m last year. The average price stands at around R5,1m. Just over half of all sales were freehold properties which sold at an average price of R6,1m up to a notable highest price achieved of R22m. Sectional title units sold at an average price of R3,9m and a highest price of R10,6m.
BRETTENWOOD COASTAL AND DUNKIRK ESTATES ALSO IN THE LUXURY MIX
Both Brettenwood and Dunkirk also rank among the top high-end coastal estates according to Wassenaar. Brettenwood Coastal Estate achieves sales worth almost R140m while Dunkirk Estate clocked up R128m in sales. Both offer luxury homes, generally in the R5m to R10m range.
HAWAAN FOREST ESTATE (UMHLANGA) IS HOME TO ABOUT 100 LUXURY PROPERTIES
Hawaan Forest Estate in Umhlanga now boasts a median freehold price of R9,3m which puts it among the top high-end coastal estates in the country. According to Seeff Umhlanga licensee Brett Botsis, the estate offers one of the best lifestyles and excellent investment value.
Aside from security and privacy, the estate is renowned for the ancient forest which borders the estate. It is home to 100 luxury homes with several vacant plots still available in the R4 m to R6m range. House prices generally range from around R8m to R26m for a top-end home.
KZN SOUTH COAST ESTATES NOW JUST AS POPULAR
The South Coast has seen a flurry of buyers since the onset of the pandemic in 2020 which has greatly boosted semigration to the area according to Seeff South Coast licensee Michelle Harris. Better value for money and the proximity to Durban are advantages for the villages and towns of the South Coast.
She says they are excited that the South Coast now also has an eco-estate offering in Margate to meet the high demand for gated estates in the area. The 120-ha Serenity Hills Estate offers beautiful scenery, amenities and views of the Indian Ocean. It has a choice of freestanding homes in two to four bedroomed-options, priced from just R1.395m (for a two-bedroomed unit).
