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Savvy investors are cashing in on tourism in Durban North

Category Residential Property News

Savvy investors are cashing in on tourism in Durban North 27 Sep 2019 Durban North's residential sector dates back to 1950, to a time when grand family homes boasting timeless Dutch and Victorian architectural designs were being built throughout the suburb. These were then steadily interspersed by more modern homes until the suburb became an amalgamation of both old and new worlds - a balance which it retains today. This four bedroom, two bathroom home in Durban North, KwaZulu-Natal, has a deck with views, pool and lovely garden. It is selling for R2.45 million - click here to view. "And with its proximity to top schools, Durban North in KwaZulu-Natal is a highly sought-after residential choice for families, but now there is another trend taking hold to change the suburb once again," says Greg Harris, owner of the local Chas Everitt International franchise. "Many of the larger homes, once owned by wealthy families, are now being converted into guesthouses and bed-and-breakfast accommodation (B&Bs) by business-minded locals who see promising tourist potential in the suburb." This home in Durban North, KwaZulu-Natal, offers nine bedroom suites, a verandah, landscaped garden and pool. It is selling for R6.3 million - click here to view. And this trend looks set to grow as Durban North has widespread appeal among domestic tourists and business visitors who are increasingly booking accommodation in these types of properties. Harris says the guesthouse and B&B sectors in the suburb are fuelled by those who want comfortable accommodation with a homely atmosphere that is affordable, secure and strategically positioned close to key arterial routes and places of interest. Besides offering a home away from home, guesthouses and B&Bs here are attractive options for business tourists because Durban North is close to a number of commercial precincts and commercial hubs such as La Lucia Office Park, Ridgeside Office Park (Umhlanga) and Simbithi Office Park (Ballito), he says. This eight bedroom, four bathroom home in Park Hill, Durban North, has a lapa with built-in braai and sparkling pool. It is on the market for R1.625 million - click here to view. Adding to this convenience, the King Shaka International Airport is only 25.8km away or a 22-minute drive via the N2, allowing for an easy commute into and out of the suburb. Harris says domestic tourists are opting for this type of accommodation because it is much more affordable than hotels, while still placing them close to attractions such as Virginia Beach and Japanese Gardens, as well as other gems along the North Coast including the KZN Sharks' Board, Sugar Rush Park and the Harold Johnson Nature Reserve. This four bedroom, two bathroom home in Glen Hills, Durban North, offers a playroom and pool. It is selling for R2.195 million - click here to view. "Location, affordability, attractions and convenience will be the driving force behind the growth of guesthouses and B&Bs in Durban North, and we expect more homes to be converted into such sought-after accommodation for business trips and holiday getaways," he says. "If you're currently looking for a property for guesthouse or B&B purposes, it is important to first research the topic and get a good understanding of what you're getting into." You can either buy an existing guesthouse or B&B, in which case it is advisable to double check the zoning permissions to make sure it is operating legally, or you can buy a property that hasn't been zoned as yet and take the necessary steps to apply for zoning permission through the local municipality.

Author: https://www.property24.com/articles/savvy-investors-are-cashing-in-on-tourism-in-durban-north/28885?

Submitted 09 Oct 19 / Views 156