Following the hard lockdown in April and May, South Africa experienced a massive increase in property sales the past few months, with coastal properties attracting significant interest. Renishaw Hills, a mature lifestyle establishment on the KwaZulu-Natal (KZN) South Coast, has noted a surge in August, with property sales concluding and investor interest on the up.
“There are definitely a number of elements that have contributed to the recent property boom, with quality of life undoubtedly a major deciding factor for people living through lockdown,” explained Phil Barker of Renishaw Property Developments. “The work-from-home reality, which once made employees weary, has proven incredibly effective. And, if you’re going to work from home, then preferably do so with a beautiful ocean view!”
Renishaw Hills is located near Scottburgh, alongside a nature conservancy, providing residents with both coastal and forest access in a secure setting. The many on-site facilities, as well as the low-maintenance requirements of a well-run estate, have seen people drawn to the hassle-free, coastal living for which the KZN South Coast is renowned.
Barker said that the historically low interest rate, which wouldn’t usually impact retirees, has also worked in their favour: “While retirees don’t generally rely on home loans, the decreased interest rates have made it easier to sell an existing property. We’ve also noticed a trend in the relatively younger buyers investing in a retirement home now, to be used later in life. This buy-to-rent model works incredibly well in a retirement village setting.”
In August alone, Renishaw Hills has concluded five sales, with another couple lined up; and the number of inquiries received has continued to grow as lockdown measures have eased: “The interest is from people across the country, and we’ve noticed a definite uptake in inquiries coming through on our social media platforms.”
Renishaw Hills introduces Phase 5
The opening of the property market has fortuitously coincided with the Phase 5 launch of this well-established lifestyle village. Renishaw Hills currently has only 13 standalone units left in Phase 5, all of which are 2- and 3-bedroom homes that are light, spacious and completed in modern finishes.
There are 7 prime-position units available with coastal forest views – of these, one is a 2-bedroom unit, and six are 3-bedroom units. There are also three 3-bedroom homes boasting sea views.
· Renishaw Hills Phase 5 standalone homes start at R2.91m, or a discounted price of R2.48m in the RTO Sectional Title option.
Due to demand, we have also just launched a further 8 of our popular 2-bedroom maisonettes, starting at R2.05m.