Luxury living in the Northern Suburbs

With the recent release of land in the Sibaya precinct in this northern development corridor outside Durban, the area is abuzz with local and international investors, developers and end-users all wanting a price of the action.

One of the reasons this coastal beltis expanding at such a pace is because of the multitude of mini-metros along the coast. This means one can choose to live, work and play inDurban North.

Similarly,La Luciais a self-sufficient hub with everything from commercial to retail to residential. Then of course,Umhlanga is fast becoming the "Sandton"of KZN as commercial players flock to the area, supported by a strong residential and development market.Finally, further along the coast to Umdloti, the promise of Sibaya has created a tremendous amount of hype. The vision is for this area to be a vibrant mix of commercial, retail and residential, resulting in convenient living par excellence.

Durban North is perhaps the most family-driven market along this stretch because of its excellent schools. People who live in Durban North tend to stay in the area because it is the most conveniently situated area along the coast.

Just slightly north, La Lucia is also a highly sought-after area, but a newer suburb than Durban North with a more modern feel.

And so, while Durban North is home to very few estates and has a colonial feel with old, solid homes, La Lucia has more modern, contemporary architecture and a mix of estates, sectional title and freehold, she says.

Umhlanga is an even more diverse area, with mixed-use areas, commercial and retail hubs, traditional suburban pockets and a beachfront filled with apartment blocks and five star hotels. New Town, which is the Gateway area,has become a highly popular retail centre. Here the mixed-use concept has been implemented, enticing numerous young buyers who work in the area to enter the residential property market.

Sectional properties make up 96% of Gateway's offering, with the average selling price of an apartment around R1.5 million. Rental returns are good, and a unit with two bedrooms costing around R1.8million will lease for between R8 000and R10 500per month.44% of buyers in the area are between 18 and 35 years, indicating that this urban lifestyle suits young executives.

The average selling price for freestanding homes is R7million, which indicates that Umhlanga is one of the most popular, and therefore most expensive, areas in KZN.

Estates are being developed all over the area, with the growing demand for security, and prices of homes in these estates start from R6million and exceed R15million.Demand is high and developers are seizing the opportunity.

We are experiencing exciting times in KZN with all the development and growth in this northern corridor. It seemscommuters are flocking to the area because of its lifestyle offering, and KZN is set to become Cape Town's warmer, sunnier rival.