KZN semigration: Ballito the boom town
The KZN residential property market has shown remarkable resilience in bouncing back from the Covid-19 pandemic and natural disasters.
KwaZulu-Natal is one of three coastal provinces – along with the Eastern and Western Cape – benefiting from semigration.
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Residential property data has shown some notable trends in the South African housing market, mainly due to the semigration of residents from Gauteng to coastal regions like Kwazulu-Natal.
Factors driving semigration in SA include better safety, new work opportunities and a better quality of life.
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Since opening in 2010, King Shaka International Airport has provided major stimulus for development along the KZN North Coast. The Ballito area has been one of the biggest beneficiaries.
Interestingly, 44.6% of Ballito’s 8,812 homes are located in estates and 60.3% of Ballito homes are Sectional Title properties.
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According to BetterBond data, the average home loan value for repeat buyers in KZN is R1.45 million.
SEMIGRATION TO KZN: WHAT’S THE ATTRACTION?
- The KZN South Coast boasts seven Blue Flag beaches: Hibberdene, Umzumbe, Southport, Lucien, Ramsgate, Marina and Trafalgar. North Coast beaches awarded Blue Flag status are Blythedale, and Willard and Thompson’s Bay in Ballito.
- The Port of Durban is sub-Saharan Africa’s largest shipping terminal and the fourth-largest container terminal in the southern hemisphere. It handles 60% of South Africa’s container traffic.
- 800,000 people visit uShaka Marine World every year.
- The Maloti-Drakensberg Park is a UNESCO World Heritage Site and home to rock paintings made by the San over a period spanning 4,000 years.
- Sugar cane is a strategic crop in KZN and the industry supports about 1 million livelihoods. Approximately 80% of the South African sugar industry is located in KZN.
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