The tide is shifting for investors on the KZN Mid-South Coast
For more than a decade, we’ve watched the KZN North Coast property market explode, with coastal estates being developed at pace to meet the increasing demand.
Image supplied by Renishaw Coastal Precinct
According to the latest African Wealth Report, Ballito is now one of the fastest-growing areas in South Africa in terms of wealth growth over the past decade. The reasons for this are evident; the year-round subtropical climate, warm swimming beaches, great facilities, and the relaxed, family-friendly lifestyle.
As can be expected, the market is saturated and where there is massive demand from inland and international investors, there’s going to be a correlating rise in property prices. For those of us who’ve been monitoring the South African property market closely, it should come as no surprise that the KZN Mid-South Coast is now emerging as the next in-demand location for investors, and the launch of Renishaw Coastal Precinct is set to ignite this economic awakening across the property classes.
The region has all the attributes that attract buyers to the North Coast – climate, beaches, facilities, and lifestyle – plus the added advantage of having much more cost-effective property options, with land values up to 40% less than on the KZN North Coast. Considering the KZN boasts the highest number of Blue Flag beaches, two world-renowned dive sites, endless nature trails and eco-adventures, interest is only set to grow.
While there are extensive plans for the 1 300-ha Renishaw Coastal Precinct, the development philosophy is to allow free movement between the five nodes by not fencing in the conservation areas, and providing motor vehicle access along the arterial routes, with dedicated lanes for bicycles and golf carts. Of the land available, only 2.6m m2 will be developed while the balance - around 10m m2 – will be converted into conservation areas, re-introducing the lush indigenous coastal forest and grassland that once dominated the area. Rehabilitation of the Mandawe Wetland is already underway and the first step towards this ground-breaking initiative.
Conservation and sustainability are not just buzzwords. With the reality of climate change evidenced by the KZN floods and the country crippled by Stage 6 blackouts, it’s imperative that we’re developing with the land, rather than working against it. Locally sourced materials, innovative designs that maximise natural lighting and breezes, solar-ready designs, and greywater harvesting will form part of the development.
Renishaw Coastal Precinct is easily one of the most exciting developments in the country right now, particularly when considering the scale of the development. The land will be developed into residential, commercial, and retail zones with plans for healthcare and educational facilities further entrenching this notion of self-sustainability in a completely secure space.
The residential potential and return on investment have already been established by Renishaw Hills, the mature lifestyle development located in Node 1 of Renishaw Coastal Precinct, and the first billion-rand development in the area. In just six years, the 25-hectare Renishaw Hills has grown to accommodate more than 300 residents with R400 million in sales so far. Buyers have already enjoyed an escalation in home value by 50% over the past five years, with the coastal lifestyle, ocean and forest views, access to conservation areas, and great facilities driving demand. Of the 1 000 residential opportunities available, 200 have been taken with SPLUMA (Spatial Planning and Land Use Management Act) approval received for the development of the remainder.
With the precinct found a quick 40-minute drive from Durban, and many businesses relocating to suburban areas, Renishaw Coastal Precinct is primed for commercial investment opportunities. The pandemic not only prompted semigration to regions like the KZN Mid-South Coast, it ignited a live-work-play existence where people don’t want to travel far for recreation or profession. Coupled with the affordable land prices found here, we’re expecting significant development in multi-purpose retail, light commercial, medium-impact mixed-use, low-impact mixed-use, and mixed office use in the precinct.
The holistic, self-sufficient lifestyle is supported by the SPLUMA-approved Node 3, set to be the business and social hub of the area. In addition to zoning approval for private hospitals and schools, there is zoning for shopping centres and light commercial use with a shopping mall planned for the node. Technologically smart and forward-thinking, the site will have the latest internet connectivity available, as well as an independent water supply, for greater reliability and sustainability. This newly established urban core will give residents better access to quality retail options, as well as schooling and healthcare.
The value for investors is immense, but we’re equally excited about the value for the local economy and opportunities for regional growth. There is a willing and available labour force that will benefit from the expansive job opportunities provided, from construction through to permanent positions across the retail and commercial sectors. With tourism the dominant economic contributor on the KZN Mid-South Coast, there is no doubt that broadening the avenues of revenue will be a welcome result, strengthening the region’s position as one of the country’s most in-demand locations.
"The window for opportunity is open within the KZN Mid-South Coast, with Renishaw Coastal Precinct providing investors with the necessary support to make this vision a reality."
Barto van der Merwe, MD of Renishaw Coastal Precinct
