DURBAN - Residential property buyers in Durban have been galvanised into action with realistically priced homes selling within a week or two.
An apartment in sought-after and trendy Florida Road in Morningside snapped up within an hour of the listing going live.
Michelle Burger, Pam Golding Properties area principal in Durban affirms that renowned Florida Road has transformed into a vibrant hub in high demand. Other factors that have contributed to the popularity of the area include high visibility of security via the Florida UIP (Urban Improvement Precinct) and that Florida Road is correctly tenanted, with a selective mix of restaurants and commercial which provides a huge drawcard for local residents.
"The success of the Florida Road hub has impacted positively on residential property in the vicinity," said Burger.
She added, "The property sold in record time was a two-bedroom, sectional title apartment which fetched R1.45 million. We are certainly seeing sectional title units much more in demand, with apartments in older blocks going from R900 000 to R1.3 million for two bedrooms".