DURBAN - Umhlanga is home to some of the most expensive suburbs in Durban.
The said suburbs are Umhlanga Ridge and Umhlanga Rocks. Over the past 20 years the total value of Umhlanga has grown to an incredible R10 billion.
The property value of the area increased by close to R3,4 billion between the period of 2009 to 2013.
According to Private Property the average price of a 2 bedroom house is R2,79 million, a three bedroom house is R4,37 million and a 4 bedroom house is R6,51 million.
Umhlanga has a value of R 20 673 per metre square. Lagoon Drive in Umhlanga Rocks has a of R35 000 per metre square.
Private Property listed the top three most expensive houses in Umhlanga as follows:
A 3 bedroom house at R46 million in Umhlanga Rocks
A 8 bedroom house at R35 million in Umhlanga Rocks
A 7 bedroom house at R32 million in Umhlanga Rocks
Gateway Theater of Shopping, which is the largest shopping mall in the Southern hemisphere, has undoubtedly added to the property value in Umhlanga.
Another exciting development is the Umhlanga Arch, which is estimated to add an extra R600 million value to the area. The Umhlanga Arch will have an office park, residential apartments, restaurants, shops, a health club, barber and salon.
Other developments like the Pearls Mall and the Oceans Umhlanga Development will add value of R3 billion and R3,1 billion respectively
- BUSINESS REPORT ONLINE