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BEACON OF HOPE
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For many South Africans a search for greener pastures does not mean they want to emigrate, but perhaps to consider a move to another part of the country. For buyers like these, the KZN north coast is attractive. The north coast corridor running from Durban to Ballito is becoming the place to be for the country's super wealthy, says Sabrina Errico, broker principal for Lew Geffen Sotheby's International Realty in Ballito and Umhlanga.
"Semigration to the coastal belt between Durban North and Blythedale remains the recurring favourite destination for many families, especially those coming from Gauteng but also other provinces." This semigration, she says, may be largely due to the need for lifestyle changes and increased property investment portfolios.
"While the vast majority of wealth and employment opportunities remain in Joburg, KZN's way of life, weather and safety have become a shining beacon of hope for many South Africans. Families are attracted by the warmer weather, beautiful estates and laid back lifestyle, and many are investing in our real estate as holiday homes, permanent homes, rental homes or future retirement properties," Errico says.
Echoing this, Keith Broadfoote Brown, principal of Jawitz Properties Ballito, says semigration to the KZN north coast has been a popular option over the past five years, and continues to be. "We haven't seen much of a slowdown in recent months." About 25% of buyers in this region are from Gauteng, and almost exclusively look to buy into the gated estates and luxury apartment complexes along the coast of Umhlanga, Ballito, Umdloti and Zimbali, says Myles Wakefield, chief executive of Wakefields Real Estate. "Many of these buyers are commuters, or are establishing second homes at the coast. "A quarter of buyers on the south coast has also, for many years, hailed from Gauteng, most of them retirees moving into complexes.
Wakefield notes, however, that the percentage of buyers semigrating to Durban and KZN, has not increased in recent months. "Within our province, semigration naturally varies from area to area suburban areas such as the Upper Highway and Westville are less affected, but areas such as the Midlands and the coast have always drawn people from other provinces." Errico says semigrants to the coast are primarily from Johannesburg, northern KZN and, often, Cape Town.
"Many come from properties such as townhouses very popular in Gauteng, farms Drakensberg and Underberg area as well as apartments Cape Town. On our coastline, we are offering larger family homes in secure estates or close to the beach in Ballito and Umhlanga. In addition to our crime rate being lower for those from Johannesburg, our weather is more temperate, and our environment is more amenable to younger families and retirees. This is as opposed to the younger career driven individuals and students who find they may need the city life for a particular period."
Most semigrants are younger families looking for family homes, Broadfoote Brown says. "If they don't have a holiday home here already, most look to initially rent a property They all seem to prefer the secure gated estates for the added facilities they have to offer families.
"Even KZN residents look to move away from the cities to the smaller coastal towns. But Broadfoote Brown says: "In our market, we are finding that most people who are moving are going abroad. However, we do seem to be one of those 'last stepping stones' in South Africa for a lot of people." Wakefield says there has also always been a small percentage of locals who move to the Midlands from the city, and these are predominantly retirees who are finding more affordable living with good levels of care in areas like Howick.
A smaller percentage of parents also choose a country life near some of KZN's top schools. "Moving into the country, ostensibly to escape the rat race, is certainly a lifestyle decision many dream of, but it isn't always possible, nor does it necessarily offer a cheaper existence without a substantial downgrade in standard of living.
"In tough economic times, most people try to retain the status quo, particularly in terms of retaining their employment and lifestyle." He adds that if the city is hard-hit economically, the countryside is often hit even harder.
Author: Lew Geffen Sotheby's International Realty