Property Report: Ballito defies economic headwinds with record property investments
Ballito has seen record growth for the third year running with R5-billion spent on residential property alone.
It has long been thought that the North Coast, and Ballito in particular, is a growth area and it has always been considered a good area in South Africa to invest in.
From the airport opening in 2010, to the explosion of the gated estate market, the growth of the commercial areas, infrastructure upgrades and even to Club Med choosing Tinley Manor as their new location, it’s not hard to see why the area is growing faster than most, and is one of the locations in Africa where buyers want to purchase real estate and businesses want to open up in.
But what do the statistics say? And, do they align with this opinion?
I can happily and emphatically say they do.
Each year we track the numbers of total rand spent in the area. For this exercise I have taken the area from Zimbali Estate to Tinley Manor and I have kept my focus on residential properties only.
From 2017 to 2020, the area remained stable trading between R3-R3.5 billion. This includes the Covid year which, given we lost a good three months of activity, still managed to pull in more than R3-billion of trade.
2021 and 2022 then took a huge leap and left the previous years way behind with trades of R4.5-billion and R4.75-billion respectively. New estates and complexes aided in that growth but only to a point.
Established areas also had a big uptick, proving that buyers and investors were not only going for the new properties that are being built on the North Coast.
The latest figures for 2023, however, might surprise people the most. Speak to real estate professionals, as I’ve mentioned before, and many will say it was a difficult year with the economy slowing down, loadshedding at records levels and the rand weakening to some historic lows.
But despite the negativity that was doing the rounds in some quarters, Ballito yet again saw record growth for the third year running with R5-billion spent on residential property alone.
Add in commercial properties and the number climbs further.
If you go more granular into our different suburbs (which anyone is welcome to contact me about), there were some losers and some winners compared to previous years.
However, the top line synopsis is that most areas held their own and grew a little which, given the times we are living through, just once again shows how strong the North Coast is, and that it really is the right and sensible choice if you are looking to invest in South Africa.
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