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Umhlanga is one of the high demand areas for property. (Shutterstock)
Johannesburg – The next twenty years will see phenomenal growth in the Umhlanga area, according to Misty Blue Investments CEO Vejan Pillay.
“My take on the KZN property market, especially as regards the coastal areas of Umhlanga, Umdloti and further north, is that they are very much in a growth phase.
“There is significant demand for property in these areas, and unlike a few years ago when Durban was lagging other markets in terms of property development, we’ve now caught up and overtaken even the more popular areas in Gauteng and Cape Town,” said Pillay.
He said that prices have increased significantly, with rental prices in particular rising to be on par with Sandton.
“In the very high demand areas, such as Umhlanga, you can’t even find accommodation. You have to go on a waiting list for an apartment.”
The Gateway area is especially busy, said Pillay.
Holiday homes are also doing very well in certain areas because of the demand from Johannesburg.
“The million rand two bedroom market is especially popular. King Shaka airport provides easy access,” he said.
It’s easy to come down just for the weekend, more so because there is always something happening in Durban on the weekend, Pillay added.
- Fin24
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“My take on the KZN property market, especially as regards the coastal areas of Umhlanga, Umdloti and further north, is that they are very much in a growth phase.
“There is significant demand for property in these areas, and unlike a few years ago when Durban was lagging other markets in terms of property development, we’ve now caught up and overtaken even the more popular areas in Gauteng and Cape Town,” said Pillay.
He said that prices have increased significantly, with rental prices in particular rising to be on par with Sandton.
“In the very high demand areas, such as Umhlanga, you can’t even find accommodation. You have to go on a waiting list for an apartment.”
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The Gateway area is especially busy, said Pillay.
Holiday homes are also doing very well in certain areas because of the demand from Johannesburg.
“The million rand two bedroom market is especially popular. King Shaka airport provides easy access,” he said.
It’s easy to come down just for the weekend, more so because there is always something happening in Durban on the weekend, Pillay added.
Umhlanga property
- Fin24
Add your voice to our Property Issue:
* Write a guest post
* Share a personal story
* Ask the experts
