These include the last phase of development in the Mount Edgecombe Country Club Estate, which is comprised of seven new homes of around 350sqm each, priced at R3,85m. There are being built in the same colonial veranda style as the rest of the estate.

Also under development is the new Kindlewood Estate in Mount Edgecombe village, which offers freehold stands priced from R950 000 and three-bedroom, two-bathroom sectional title apartments that are selling off-plan at prices from R1,995m.

Both projects are being marketed by Sothebys International Realty in Umhlanga, whose owner William Campbell says there has been an increase in demand for homes in Mount Edgecombe since the opening last year of the King Shaka International airport in nearby La Mercy.

“This has made it very easy for executives and professionals from Gauteng and other inland regions to relocate their families to this most desirable area and become weekly business commuters. There is even a regular shuttle service between Mount Edgecombe and the airport.”

However, he says, the Mount Edgecombe lifestyle is also very attractive to buyers from Durban and other parts of KZN. “The estate itself has two championship golf courses, squash, tennis and bowls facilities, and a superb clubhouse with restaurants, bars, function and conference rooms. And everything else one could need is close by, including a private school, a private hospital, a gym and a variety of shops.

“What is more, the business centre of Umhlanga is just a few kilometres away, as are the exciting Gateway Theatre of Shopping and Umhlanga’s beautiful beaches and trendy nightspots.”

Even better news for prospective buyers in Mount Edgecombe, Campbell says, is that home prices in the area are currently still about 15 to 20% lower than during the property boom. “This means that there is exceptional value to be had here now.”

Meanwhile, he says, there is also strong demand for rental homes in the Mount Edgecombe estate, especially from corporate clients. Monthly rentals currently range from around R11 000 up to R35 000, and usually escalate at 10% a year.


Written by: http://www.myproperty.co.za/news/4115/Market-turns-positive-in-Mount-Edgecombe.aspx | Date Added: 07 Oct 2011