Property Investment Cape Town

New ‘Durban Monopoly’ highlights prime property locations

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Durban’s rightful place on the ‘global map’ has been reaffirmed with the recent launch of the new Durban Monopoly board game. The second city in South Africa to be featured after Cape Town, the Durban edition features well-known landmarks such as Moses Mabhida Stadium, uShaka Marine World and The Pavilion Shopping Centre, among others.

“Being a world-renowned surfing city, we are ‘stoked’ at the recognition for Durban,” says Carol Reynolds, Pam Golding Properties area principal for Durban Coastal. “It’s not surprising that Durban features so prominently on the international arena as apart from its high tourism, cultural and leisure appeal, it is home to a host of different residential areas ranging from entry level through to the top echelon, making it the perfect metro to use as a base for Monopoly.” pier-2760513_1280

Michelle Burger, Pam Golding Properties area principal in Durban, says Durban is home to iconic homes in some of the most desirable addresses, such as Bowes-Lyon and Ellis Brown Roads in upper Glenwood and Eastbourne and Sir Arthur in upper Morningside, while other streets such as Trematon Drive, Mentone Road, Hollander Crescent and Musgrave Road remain prestigious and sought after among home buyers.

Homeowners tend to hold onto properties in such prime locations for a longer period of time than the norm, says Burger, and notes that a search on Trematon Drive, over a seven-year period, revealed there were no resales. “I also picked up an instance where a property in Hollander Crescent which sold in 2012 for R1.8 million just a year later fetched R3.65 million, which could be a home that was purchased in poor condition, renovated and then resold. There are good opportunities if you can pick up a dilapidated property and restore it.”

Says Reynolds: “Properties in Durban have held their value over the years, with areas such as Durban North, for example, experiencing sound price appreciation of seven percent year on year. In upper Durban North, where homes sell for between R5 million and R10 million, coveted addresses include Westminster Place and Monteith Place.”

Adds Burger: “When compared to Cape Town, Durban’s climate sets it apart – winter doesn’t even feel like winter. Property prices are still much more affordable when compared with Cape Town, while Johannesburg does not have the lifestyle appeal of Durban, and of course no beaches, so many Gauteng families are choosing to relocate for these reasons.

“The Durban Monopoly board game is also a plus for local residents as it’s a clever way of making the game more relevant for anyone who loves this city. It will certainly reignite many Monopoly players to go out and buy this new version for a fun and personal gaming experience.”

Reynolds adds that it is further positive endorsement for a city that has previously been underestimated and which is now coming into its own. “With the recent surge of interest in Durban from a tourism perspective, and just based on its dream climate and lifestyle offering – including a world-renowned promenade and all the amenities one could wish for, it’s the perfect time for Durban to gain further recognition. It has a great range and selection of residential options, which makes it ideal for home buyers. Not for nothing has it been ranked top city in South Africa for its quality of life (Mercer Index) for the past three consecutive years.”

“Apart from that, it is a refreshing way of getting families to connect. My children would rather play Monopoly than sit on their devices. In fact, digital games are so commonplace that board games are regaining interest from children because of the novelty factor,” adds Reynolds.

 

Source: https://www.property24.com/articles/new-durban-monopoly-highlights-prime-property-locations/27178?utm_source=newsletter&utm_medium=email&utm_campaign=weekly_newsletter