On Friday 13 October one lucky eagle-eyed bidder managed to pick up a three-bedroom sectional title apartment with magnificent ocean views in the highly sought after area of Umhlanga for a cool R3 520 000.
That’s the word from PVA’s Clive Lazarus who oversaw the auction and calls the property in question “An investor’s dream”. He goes on to explain that the price achieved is below current building cost in the area and represents excellent value for money.
Located at 220 Umhlanga Rocks Drive, La Lucia Ridge, unit 210B of The Executive measures 232sqm’s and comprises an open plan lounge, dining room and kitchen with a scullery, three bedrooms, three bathrooms and a balcony which affords residents splendid panoramic views of the Northern coast shoreline.
The Executive is a secure, gated, up-market estate with proximity to the beach, fine schools, hospitals, the Gateway Shopping Centre and The Umhlanga Nature Reserve.
Lazarus says: “Times are tough. Investors are choosing to sit tight. However, property in Umhlanga is proving to be a sound purchase – and those who invest now are almost certain to see significant gains in the months to come.
“We are optimistic that the results of the vote in December will be positive, which will do much to improve investor sentiment.
“This property in particular holds tremendous value as both a buy-to-sell and buy-to-lease opportunity. It is centrally located to Durban North’s mushrooming business district as well as the beachfront with a plethora of world-class amenities.”