Freestanding homes for KZN

High demand for sectional title opportunities in secure estates

HIGH market demand for sectional title opportunities within secure estates, especially along Kwazulunatal’s North Coast, has resulted in the R650 million Balize Private Estate introducing free-standing sectional title homes within the estate.

Balize is within the Sibaya coastal precinct, one of the country’s key growth nodes with a total of

R3.2 billion worth of sales concluded in the past 12 months.

Neil Slatter, the development representative, said that with this enhanced offering, Balize now provided a range of opportunities to the market, from grand penthouses to lock-up-and-go cabanas or apartments and free-standing homes.

“The multitude of choice will ultimately benefit the investor as the demand for sectional title homes in residential estates increases.

“It is this demand which will push home values up and with the ongoing development within Sibaya Coastal Precinct, homes are looking to appreciate in value even further over the next decade,” he said.

Slatter said that from an investment perspective, the Sibaya Coastal Precinct and Balize offered investors the potential for strong capital appreciation. He said the fact that Balize was a low-density boutique estate only added to its appeal and forecasted value, while statistics showed that sectional title price growth was stronger than other options within residential estates.

Slatter said they had taken the decision to enhance the offering at Balize to be more in line with current market demands.

“Our trend analysis has shown us that a large portion of the South African real estate market is asking for the privacy and comfort of a freestanding home but also the peace of mind that comes with being within a secure estate,” he said.

Slatter added that security ranked highly in terms of current market trends, but so did convenience and accessibility as well as a lock-upand-go lifestyle.

He said almost 12 percent of the 6.6 million homes in South Africa were sectional title dwellings, which translated into a hefty portion of the total value of homes nationally.

Butch James, the sales director of Balize, said part of the appeal of the estate was that it offered something for families at different life stages, from young families with small children to pensioners.

“All facets of the market have been considered in the design of the estate and facilities offered. As a boutique estate, centred on an alfresco, coastal lifestyle, Balize is also very much angled at families looking to scale down in terms of home size but not lifestyle,” he said.

Slatter said another key trend in this market centred on the demand for homes in mixed-use developments while a secondary trend had emerged from convenience and was largely driven by the high utility costs faced in South Africa. He said as part of the greater Sibaya Coastal Precinct, Balize offered its investors the benefit of easy access to the amenities within the precinct, including the retail piazza.

Slatter added that with increasing economic strain, home owners were being forced to find savvy ways to make the most of their assets and convenient estate living reflected the realisation that it was easier to share facilities and forego the issues of upkeep and one’s general home maintenance.

Other benefits that cascaded from this included lowered monthly utilities, while a central location meant a shorter commute to work or school.