International Investor Confidence Continues To Grow On The KZN South Coast
International Investor Confidence Continues To Grow On The KZN South Coast. The South African property market remains an attractive investment for foreigners looking for quality yet affordable seaside locations. While the Western Cape has long dominated this market, the warm coastline of KwaZulu-Natal has emerged as an appealing destination, with the KZN South Coast now a dominant player in the property market.
“There are a number of catalytic property developments on the KZN South Coast that are gaining national and international attention for their attractive coastal location, quality build, and affordability,” explained Phelisa Mangcu, CEO of South Coast Tourism & Investment Enterprise (SCTIE). “We will continue to uncover potential in the property sector and connect buyers, developers, local and national government departments to better facilitate these investment opportunities.”
Two KZN South Coast developments attracting large-scale attention are the eco-estate Serenity Hills, as well as the 1 300-ha Renishaw Coastal Precinct. The Department of the Trade, Industry & Competition (dtic) assisted in the enrolment of the precinct into the Eastern Seaboard Initiative, after which both developments were honoured at the 5th South African Investment Conference (SAIC) in April where they pledged towards the President’s R1.2bn investment target for the South African Economic Reconstruction and Recovery Plan. This prompted a recent post-SAIC media tour, organised by TIKZN and attended by various dignitaries including the Office of the Presidency, who were afforded a first-hand experience of Renishaw Coastal Precinct and Serenity Hills.
The R800m Serenity Hills eco-estate launched Phase 1 of the development in the second half of last year and has already sold 50% of its units, with buyers coming from Canada, the United Kingdom, Switzerland, and Germany. Renishaw Coastal Precinct, which has a total anticipated spend of around R15 billion upon completion, boasts the successful Renishaw Hills in Phase 1. This well-established mature lifestyle estate saw property values escalate by 50% in just five years. Both developments offer significant investment opportunities, with Renishaw Coastal Precinct unlocking potential in retail, healthcare, education, and more. The developments are also stimulating the local economy and unlocking further opportunities for investors outside of these developments.
Beyond these, SCTIE has uncovered further potential in the Margate region with Injabulo Lifestyle Estate. This 32-ha development has an estimated investment value of R300m, largely from international investors. There will be 254 free-standing, full-title homes with private gardens and ocean views, with zoning for medical and educational facilities. Property prices start from R995 500 for a 2-bedroom unit and at R 1 192 500 for a 3-bedroom unit with the official launch in August.
SCTIE will continue to showcase and support investments on the KZN South Coast, with a focus on property and other key growth in sectors including tourism, agribusiness, renewable energy, logistics and transport, manufacturing, maritime sector, and mining.
