Grab a piece of coastal living
THE Zimbali Coastal Resort has, by conservative estimates, attracted over R6bn in investment over the past 17 years and is referenced as one of SA’s greatest development success stories.
The peak of registered deeds office transfers by rand volume occurred during 2008 with R371,9m recorded. The dramatic impact of the recession did not leave Zimbali unscathed and registered sales fell by 26.5% in 2009 with R273.3m in sales registered during this year.
Andreas Wassenaar, Principal of Seeff Dolphin Coast who is marketing this Zimbali home, says that the recovery has been gradual with registered sales volumes at R259.7m across 76 transactions in 2010 and R258.7m across 67 transactions last year. “For the year to date, 34 Zimbali property transactions have been registered with a total value of R153m. Seasonal sales activity does have an impact and we can expect the current year to close off similar to last year. Seller expectations, in terms of pricing, have moderated and as a general rule pricing is 15% below the market peak levels,” he says.
Wassenaar says that entry level homes in Zimbali are priced from R3.5m, which will typically be a sectional-title unit of approximately 250m². The typical midlevel home in Zimbali is priced at R8m and would be a four-bedroom, four-bathroom designer home with great entertainment areas and pool. “As with most coastal destinations, the proximity to the sea and the views enjoyed add significant value to the property and can impact on selling prices by as much as 50%.”
Within Zimbali there is a category of pricing from R12m to R20m, which can be referred to as the high level price band and reflects extraordinary quality and positioning. “The homes in this category will typically offer four to five bedrooms, staff accommodation, triple garaging, designer kitchens with separate sculleries and laundries, and impressive entertainment areas. Signature rim flow pools have become a must-have addition.
“The ultra high-level homes within Zimbali, of which there would be more than 40, would trade within the R20m to R50m price bracket. These have levels of craftsmanship rarely experienced and would rival residential homes in most internationally acclaimed destinations,” says Wassenaar.
Zimbali properties are typically held for a reasonably long period prior to selling. Of all the existing homeowners, just over half (50.88%) have owned their properties for more than five years. Of all the recent Zimbali sellers over the past 12 months
The ultra highlevel homes within Zimbali would trade within the R20m to R50m price bracket
57.34% owned their properties for more than five years. “This gives an indication that there is little speculative buying behaviour and that most of the people investing in Zimbali do so for the longer run,” notes Wassenaar, who points out that the age analysis of recent Zimbali buyers over the past 12 months indicates that 51.11% were aged below 50 indicating that there is a shift to younger families with children buying on the estate. “A migration from the greater Gauteng area has already started with the new King Shaka Airport being a mere 10km away making it easy and convenient to commute from Zimbali.”
This featured property is a superb example of intelligent design and positioning of a home on a fairly steep site measuring 1 582m², with the end result being child friendly with flat grassed playing areas around a pool and entertainment area, offering good sea and greenbelt views and immaculate living spaces.
The 6m high dry stacked natural rock wall at the entrance is the perfect place to showcase an incredible work of art. The ground floor is all about living and entertaining areas. The over-sized triple garage leads directly into the home. The open plan kitchen interacts perfectly with the lounge and dining areas, has a large separate scullery and laundry room and leads off into an immaculate drying yard.
This home provides a very generous staff room with en-suite bathroom. The outdoor patio area has a built-in braai and work-top within direct access to the rimflow pool. The separate TV lounge on the ground floor is the ideal room to use as a place to escape to and would make an excellent study. The four bedrooms are located close to each other on the first floor with the higher elevation revealing spectacular views across the greenbelt of indigenous coastal forest to the ocean beyond.
The layout of the bedrooms has been carefully thought out to create a sense of opulent living spaces, extensive built-in cupboards and large bathrooms. All the rooms have huge windows ensuring that they are all light and bright. The pyjama lounge on the first floor leads onto an undercover patio, which is the perfect place to watch the sun rise out of the Indian Ocean. Price: R13m Contact: Seeff Properties Andreas Wassenaar 082 837 9094