Natal Coastal Homes High In Demand & Affordable Once Again
“With the volatile Rand exchange rate against the leading currencies in the world, and the current unstable economy sparking uncertainty amongst consumers, more and more South African families have started to focus again on the beauty of the country and the more affordable holiday home market,” explains Rainer Stenzhorn from In2assets
“With the volatile Rand exchange rate against the leading currencies in the world, and the current unstable economy sparking uncertainty amongst consumers, more and more South African families have started to focus again on the beauty of the country and the more affordable holiday home market,” explains Rainer Stenzhorn from In2assets, the leading property company in KwaZulu-Natal.This trend is supported by the activities during the past month in which In2assets sold almost every realistically priced holiday home that they took to the market.
The last economic downturn affected many home owners that owned ‘second investment homes’ which then suddenly flooded the market with holiday homes, specifically on the KZN South Coast which relies predominantly on local tourism.
“This resulted in a huge strain on the local economy and the KZN South Coast became one of the areas with the largest number of bond repayment defaulters in the country,” says Stenzhorn. As a result, the second home market started to level out and properties became more affordable as desperate home owners wanted to free themselves of the financial burden. Stenzhorn continues, “Property prices on the KZN South Coast are still affordable even in the current economy and the beauty of the landscape stretching along the Indian Ocean has now also reached the newly emerging younger property investors in the market. In2assets offers the opportunity to acquire that holiday spot that so many may have dreamed of. Based on legal instructions, In2assets offers 3 South Coast properties to be sold by auction which is a 5 Bedroom Home in the most sought after area in Ramsgate, a 3 bedroom home in Leisure Bay and a plot of residential development land with the opportunity to erect the perfect holiday home, designed to the purchaser’s specifications.
“All properties are expected to go at a hugely discounted price and In2assets invites any prospective investor to attend the auction on the 5th of July or submit adequate offers prior to the auction date” ends Stenzhorn. For more information or to view the relevant properties visit www.in2assets.com and contact the real estate assistant in charge.