DURBAN – The Sibaya Coastal Precinct has achieved R3.2 billion in sales in the last 18 months.
The KwaZulu-Natal development has also become the country’s fastest selling residential node, outdoing areas such as Sandton in Johannesburg and the Atlantic Seaboard in Cape Town.
People that have already invested in earlier developments within the precinct, namely in node 1, have already seen as much as 30 percent capital appreciation from securing a unit to subsequent transfer.
The demand from the market within the Sibaya Coastal Precinct is, however, changing and entering a new stage. Node 1 developments were set up around the investor market, now node 5 answering the primary residential market's demands.
Rajan Naidoo the chief executive of Saxony Developments said: "On completion, Sibaya Coastal Precinct will have approximately 12 000 residential dwellings across freestanding homes, apartments, penthouses and retirement units.