AMANZIMTOTI BRACES ITSELF FOR GROWTH.
Category News
Amanzimtoti or ‘Toti’, as it is called by the locals, has a warm climate and beautiful white sandy beaches. It is a popular destination for holidaymakers and an idyllic place to live. One of the popular attractions is the annual Sardine Run when massive shoals of fish make their way from their breeding grounds to the Agulhas Banks off the Southern Cape coast. Hundreds of fishermen and onlookers crowd the town’s beaches to witness the feeding frenzy spectacle that is seen nowhere else in the world.
Well-known estate agent and principal franchisee John Arnold, with 21 years of experience in the real estate market, has opened a Jawitz Properties’ franchise in the town, says: “We are optimistic about the state of the market in Toti. The future looks promising pending the new Illovo Beach development, a Toyota expansion programme, scheduled for next year. There are also plans to dig-out and build a container harbour in Prospecton, north of Toti.
This is a long-term project and will bring much needed work for the locals. The project will take many years to complete and skilled personnel will be brought in, creating a demand for property, for both sales and rentals,” he says. The property market has seen a slight improvement so far this year despite the current economic and political environment. There are many serious sellers and the prices are still reasonable. Homeowners prefer to buy rather than rent, although it has become more difficult to raise a bond so many have to resort to renting.
Currently, properties are changing hands within two to three months, provided of course they are pitched at market-related prices. However, overpriced homes take much longer to sell, sometimes up to six to twelve months before a deal is struck and then often at a lower price. Middle-bracket homes range from R800 000 up to R1.2m and at the high end, prices can be anything above the R1.2m mark. Seaside homes with sea-views are popular and offer good value when available. The average stand-alone house on a 900m² stand has three bedrooms and two bathrooms.
Demand for rented apartments at entry-level is buoyant, creating a shortage of stock. This means that as soon as properties come onto the market, they are snapped up almost immediately. A bachelor flat will go for R3 300 per month and at the high-end, a large modern house can cost up to R30 000 per month.
“On the whole, Toti is well-managed and owners take pride in their suburb. It is known as a friendly family environment with tree-lined streets and fantastic beaches that are a firm favourite with surfing enthusiasts. Residents enjoy the close proximity to Durban and many commute. All this adds up to a comfortable and convenient lifestyle,” he says.
Author: Jawitz Website
