Reflecting on 2024 and Looking Ahead to 2025!
"Well, it's been an eventful 2024 locally and on a macro scale, with various events throughout the year influencing market sentiments and the risk appetite of property investors and Purchasers looking for their own homes.
The results of our own National Election, plus the seismic results in the American and UK elections resulted in mixed feelings from the markets, but overall there is a sense of optimism for the next 4 years, as most economists agree that the election results coupled with a steady reduction in interest rates will create domestic and global growth as liquidity increases, improving the SA property market. It was a challenging year, however, certain areas that we operate in saw impressive results and increased demand for both rentals and sales. The appetite for Gated Estates has kept growing as investors and homeowners seek security first, with in-house facilities for families to enjoy. Emberton Estate in Hillcrest has continued its upward trajectory with rental demand outstripping supply, and landlords have enjoyed consistently let properties over the years. Emberton sees its final phase, Aviva is already in full swing with high sales volumes and construction forging ahead.
The ever-popular Plantations Estate remains a steady market due to its beautiful architectural styling and evergreen manicured gardens. Cotswold Downs remains the most sought-after lifestyle Estate in Hillcrest with the highest sales values of all Estates in the area. The new Cotswold Square Shopping Centre right outside the main gate on Inanda Road will further bolster the appeal of this top-end Estate. We are spoilt for choice of Gated Estates in the Upper Highway area, but there are not many opportunities left to buy land and design ones dream home within a secure Estate, except for Cotswold Downs and 101 Acutts Eco Estate. 101 Acutts Estate offers large half-acre plots from R950 000, and spacious tranquil living in a forested, green-centred Estate with herds of bushbuck, duikers and other fauna and flora to enjoy.
Smiths Property Group have recently opened up in the Ballito and surrounding areas, focusing on Gated Estates in the bustling KZN North Coast which has seen impressive sales and demand from local, national and international clientele. The new Club Med Tinley resort opening in late 2025 will further expose our stunning Province to the international market and we are excited about our future prospects in that market.
We wish all our buyers, landlords, tenants, staff and their families a restful festive season break, and look forward to a prosperous 2025."