Richards Bay has seen an average 16% price increase year-on-year, which is promising for an industrial town.
This house offers three bedrooms, three bathrooms, a modern kitchen, lounge, dining room and double garage. It is on the market for R1.29 million – click here to view.This is according to Silven Chetty, from Seeff Richards Bay, who says the port of Richards Bay continues to mention growth prospects, with both a container terminal as well as a dry dock facility touted. He says this will certainly boost their local economy if the plans are approved by government.
“Since our city is an industrial one, we have many people coming in to work for periods of less than 24 months. As such, they choose to rent rather than buy, for obvious reasons. Investors see the potential of the buy-to-let market and also flock in.”
Young families are also a large sector of the buyers as they find permanent work in the city and want space to grow their families. He says the average property prices are around R1.2 million for freehold and R768 000 for sectional title, with the average rental for a two bedroom flat being R5 500 per month. A three bedroom house has an average rental price of R8 500 per month.
Silven and Elaine Chetty, a husband and wife team who bought into the Seeff brand in 2009 by opening Seeff Richards Bay, say 80% of their sales are in the under R1.2 million range.
Silven says with the all year round summer weather, sublime coastal living and Big 5 game reserves within an hour’s drive, Richards Bay is truly a beautiful part of the world to settle in.
Situated in Wild en Weide, this home has three bedrooms, two bathrooms, fitted kitchen, dining and living room, and a garage. It is selling for R1.675 million – click here to view.Elaine, who worked at Seeff as an agent prior to buying the licence, runs the operations, while Silven provides strategic oversight. They both grew up in Richards Bay, and since opening they have doubled in size.
According to Elaine, they have an energetic, young and driven team of 12 agents and five administrators who have chosen real estate as a career. She says their average age is 32, which is far below the industry average of 55. Millennials are generally entrepreneurial and the industry offers them the opportunity to dip their toes in an industry that does not require too much capital outlay.
Elaine says their motto is simple: empower people to prosper through property – which is why they push forward, even in a challenging economic climate. She says what sets them apart is that they’re constantly changing and innovating so that their approach to marketing is second to none, and they place client satisfaction as a primary focus area.
Seeff Richards Bay has seen remarkable success in both sales and rentals, resulting in them scooping two awards at the national Seeff awards - those of top rental office in the Seeff group, as well as being a Finalist in Marketer of the Year.
This ground floor apartment has two bedrooms, two bathrooms, an open-plan kitchen, lounge and dining area, and a garage. It is selling for R690 000 – click here to view.Seeff Richards Bay also scooped a bevy of awards at the Seeff KwaZulu-Natal Regional Awards, where Elijah Chetty took two awards for Top Sales Agent for Number of Units Sold’ as well as ‘Top Achiever for Total Sales in Rands’.
In the ‘Newcomer of the Year’ category, agent Desire Raubenheimer took third place in Rental Agent of the Year, Sebe Mthethwa was Rookie Agent of the Year, and Catherine Chetty was Branch Administrator of the Year.
These national and regional successes are remarkable for a relatively young branch in an outlying industrial area of KwaZulu-Natal, and are bolstered both by market opportunities and the special features of this team.
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