Out with 2012 – In with 2013

Well, the year 2012 that we have just waved goodbye to definitely indicated an upward trend in property movement here on the KZN Lower South Coast. There was a definite increase in the numbers of property inquiries and in fact a noticeably larger amount of properties sold in 2012, compared to the previous 5 or 6 years. The most properties being sold are generally up to the R1 million range, but there were also a few more expensive, luxury class of properties sold as well.  One prestigious property of note in Ramsgate, last year sold for the asking price of an astonishing R18,5 million, while many agencies doubted that the property would even fetch R15,0 million!

Investment Buyers

As always there are always property owners upgrading, downgrading or dis-investing,  but through the recent festive summer holiday season there was also a definite sign that investment buyers were again out looking for good property investments. It was noted however,  that many of these buyers were still looking to find the absolute bargains from “desperate” sellers. It is also clear at this time that investment buyers are not only cash buyers, which was mostly the case 3 to 5 years back, indicating that property investment buyers are recovering financially after the recent years’ “Global Economic Crisis”.

KZN Lower South Coast Popularity

The extremely busy recent Summer Holiday period (festive season) here on the KZN Lower South Coast, is a clear indicator that this location as both a residential and a holiday destination has not changed, but in fact is still increasing in popularity as the summer play ground not only for South Africans countrywide but for hoards of overseas regulars as well.