For Immediate Attention
09 June 2023
Property developments on the KZN South Coast attracting outside investment
With quality lifestyle determining property location for many investors, the South African coastline continues to come out tops in the property market. The KZN South Coast, with its subtropical year-round climate and incredible natural resources, has noted a boom in property development with buyers from Europe and the United States expressing interest.
“The KZN South Coast has Blue Flag Beaches, nature reserves, and top retail and recreational facilities which make it an ideal real estate destination for those prioritising lifestyle,” explained Phelisa Mangcu, CEO of South Coast Tourism and Investment Enterprise (SCTIE). “Another major drawcard for investors is the affordability of our coastal properties, and the current exchange rate that is making it even more attractive for international buyers considering holiday homes or investments. The development of several coastal estates along the KZN South Coast reflects that the demand for affordable, quality, coastal property is there – and finally being met.”
SCTIE has met with local developers recently to uncover further investment opportunities and engage on ways that the entity can assist in overcoming red-tape barriers. Serenity Hills, a Margate-based development acknowledged by South African President Ramaphosa for its contribution towards local investment at the recent 5th South Africa Investment Conference, has noted significant international interest.
“Apart from the significant local interest, we also experience a lot of overseas enquiries. The KZN South Coast has always been a popular destination for Dutch, Swiss, and German investors, but we are also receiving enquiries and buyers coming from Botswana, Zambia, the United States, Canada, Austria, and England,” said Sam Wenger, Developer of Serenity Hills. “Firstly, the current exchange rate is working in our favour. International buyers get amazing value for money making this a really affordable investment. Secondly, South Africa remains a very popular tourist destination. The country offers so much, from beaches and mountains to safaris and much more.”
Phase 1 of the Serenity Hills development, valued at around R150m, is well underway, with infrastructure set for completion in the next couple of weeks. Currently, 50% of Phase 1 has been sold, bringing around R67m of investment to the district with significant employment opportunities for communities from Masinenge, Gamalakhe and KwaNositha.
“The KZN South Coast is experiencing a revival and the upgrade of Margate Airport is likely to attract more buyers from other parts of the country,” continued Wenger. “The semigration trend gave the region a boost, while private individuals and companies such as Tidy Towns are returning the area to its former glory. There is also the quality of life with warm weather and access to healthcare, schools, and recreational activities that are among the best in the country. Where else can you buy a brand new three-bedroom home in a high-security, green living estate with access to more than 25 amenities with high-quality finishes for under R2m?”
Property investment extends to the 1 300-hectare Renishaw Coastal Precinct near Scottburgh, which is one of the country’s largest and most awaited developments. The development was also among those acknowledged by President Ramaphosa at the 5th South Africa Investment Conference for the significant contribution already made to the area. Node 1 of 5 interconnected nodes consists of the hugely successful Renishaw Hills mature lifestyle estate.
To date, R500m has been spent on this 25-hectare Renishaw Hills out of an anticipated R1 billion. And this is just the start, as Renishaw Hills is the first development located in the 1 300-hectare, mixed-use Renishaw Coastal Precinct which will account for a total spend of around R15 billion upon completion. The estate has received more than R400m in sales so far, with house prices escalating by 50% in just five years – showing the enormous investment value of the area.
Barto van der Merwe, MD of Renishaw Coastal Precinct, agreed with the incredible development attributes of the KZN South Coast; affordability, safety, and proximity to quality services: “So far, we’ve had a number of buyers coming from the Western Cape with anticipated overseas interest as the remainder of Renishaw Coastal Precinct develops. Alongside the benefits for investors, the development is set to bring more than 1 000 job opportunities for local communities, boosting the local economy.”
In terms of investment, he said the weakened rand coupled with the high growth rate makes the region an appealing investment, for international buyers.
“South Africa, and more specifically the KZN South Coast has so much untapped potential when compared with more established coastal regions worldwide which makes this an attractive investment destination,” said van der Merwe.
Another development attracting significant international attention is Bahari Bay, the multi-billion-rand eco-estate being developed in Shelly Beach. The focus is on unrivalled recreation and leisure, with plans for exceptional on-site facilities, as well as children’s play areas, hiking paths, and mountain biking trails.
Bahari Bay Head of Marketing, Dawid Moller, said that more than half of the 100-hectare luxury estate would be a conservation area, while the remainder would be developed into high-end, modern residential units boasting expansive sea views surrounded by coastal forest. This is set to be a dynamic, future-forward eco-estate providing off-the-grid amenities to ensure an ecologically-friendly environment, and sustainable living for all residents.
Moller explained that Phase 1 of this four-phase development is already over 75% sold, with buyers coming from Johannesburg, Cape Town, and Bloemfontein and international enquiries from the United States and the United Kingdom already cementing the global interest of the estate.
Residential investment opportunities abound at Bahari Bay, with plots starting at R470 000 or a plot-and-plan option starting from R2.8 million. These will be built for the ultimate family lifestyle with a pool, entertainment spaces, open-plan interiors and spacious bedrooms. The estate is pet-friendly, self-sustaining, and doesn’t limit buyers in terms of building designs.
Extending from Port Shepstone, the area’s economic hub, throughout the KZN South Coast, there are so many investment opportunities. To find out more about these, get in touch with SCTIE, the KZN South Coast’s One-Stop Shop for investment. Contact SCTIE on 039 682 7944, email email@example.com or visit www.investkznsouthcoast.co.za.
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Renishaw Coastal Precinct.
About South Coast Tourism & Investment Enterprise (SCTIE)
SCTIE was established as the official economic development arm of the KZN South Coast which extends from Scottburgh to Port Edward, and inland to Harding. It is a legal entity of the Ugu District Municipality with executive powers, serving the Ugu District and its family of municipalities. The entity is committed to identifying and unlocking the full tourism and investment potential of this region. SCTIE achieves its mandate of promoting investment through dedicated marketing initiatives, product development, business support and training, dedicated networking events, and breaking down barriers to local investment. From the coast to the hinterland, the KZN South Coast has a wealth of untapped investment potential for those who are looking to branch out into the district and uncover opportunities. The attractive location, subtropical climate, natural assets and accessibility make the KZN South Coast a prime investment destination. By engaging with local and international role players, SCTIE seeks to assist investors looking to uncover hidden gems across various economic sectors, including tourism, agriculture, manufacturing, real estate, logistics and transport, and the ocean economy, among others. For more information, visit www.investkznsouthcoast.co.za.
Issued on behalf of:
South Coast Tourism and Investment Enterprise (SCTIE)
Olivia Jones Communications
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