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Convenience in terms of location and proximity to good schools, retail centres and medical facilities such as hospitals has become the highest priority for many residential property buyers, coupled with a general leaning towards secure estate living, says Carol Reynolds, a Pam Golding Properties area principal for Durban Coastal.
Says Reynolds: “The upbeat sentiment surrounding the recent international trade forum held in Durban, together with the general shift in municipal leadership which now has a keen focus on service delivery, investment and growth, augurs well for the residential property market. “Interestingly, in recent years, we have experienced more foreign interest than usual, including a number of German purchasers who have acquired homes in Durban North and uMhlanga, while we also have an ongoing stream of Dubai purchasers looking to invest here. On the whole, however, most of our buyer activity is local, with people moving due to lifestyle changes or changes in area needs.
“While we have seen an uptick in activity, the luxury market is very discerning and price sensitive. Buyers at this level are astute and have done their research, so they will seize the opportunity to purchase a correctly priced home, but won't acquire anything that is over-priced, therefore correct pricing is key for sellers.”
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