Once a vacation destination for the well-heeled from other provinces, Ballito in KwaZulu-Natal is now attracting so many permanent residents that estate agents are experiencing significant stock shortages.
This Simbithi Eco Estate apartment has four bedrooms, three bathrooms, a fitted kitchen, two reception areas, built-in braai and two basement parking bays. It is currently priced at R3.35 million – click here to view.This is according to Greg Harris, owner of the local Chas Everitt International franchise, who says it’s like boom time in Ballito. He says there has been a huge population increase here, from around 12 000 residents in 2005 to more than 30 000 now, and this has put pressure on the supply of residential property, as well as the infrastructure.
At the moment, he says buyers are especially attracted to secure estates like the Simbiti Eco-Estate and Brettonwood Coastal Estate, which have been developed on land that was previously used for sugar cane farming.
He says tourists are also being drawn here by the new hotels and resorts that have gone up in the past few years, and they find that they often end up shopping for property while they are here.
Growth along this picturesque part of the KwaZulu-Natal coastline was previously hampered by a lack of infrastructure, but that is also now a thing of the past, he says.
“Various developments like a new town centre, a taxi rank, a larger clinic and several new schools are on the cards, making it possible for families to make Ballito their permanent home. In fact, according to Lightstone, 54% of recent buyers in Ballito were between 36 and 49, which is the age group of people with school-going children.”
This KwaZulu-Natal apartment offers two bedrooms, two bathrooms, two reception rooms, a fitted kitchen, balcony, a communal swimming pool and braai area, and security features. It is selling for R2.7 million – click here to view.In addition, Harris says the northwards push out of Durban is continuing and the home prices in Ballito are still considerably lower than in Umhlanga. He says the main entrance to Ballito from the N2 highway is also currently being upgraded, including a spaghetti junction to ease traffic, the widening of the road to four lanes in Ballito Drive and proper pedestrian walkways.
Commercial development in Ballito has also been massive in recent times, he says, with a 30 000sqm lifestyle centre currently under construction at a cost of R3.2 billion, to add to the four shopping malls that already exist.
“And local property prices have risen on the back of the increased demand. The average price for a freehold home in 2014 was R2.119 million and is already up to R2.542 million in 2015,” he says.
“Sectional title homes now average R1.615 million, up from R1.569 million last year. A 1 000sqm stand with no sea view costs between R600 000 and R1 million, while a stand with a sea view could cost between R1.4 million and R2.5 million.”
A perennial favourite among retirees, Ballito also offers seniors a choice of several secure developments including Tinley Manor, part of the Palm Lakes development, which will consist of 500 units, the sectional title Forest Village at Brettonwood and the Savanna development in the Simbithi Eco Estate.
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