The unsavory precinct of The Point Waterfront in Durban has since 2013 undergone major redevelopment which has attracted large scale property investment within the hospitality and residential market.
The Point caters for a diverse market which consists of young families, well-heeled business men and holiday property investors. This translates to a stable seasonal rental market with high seasonal income.
The mixed property usage consists of apartment buildings and hotels which now stand in place of previously unused and derelict property.
The current high degree of demand for property within The Point has been a driving factor along with the upmarket and modern architecture and security offered in the apartment buildings.
It is considered by many young and upcoming property investors to be the right address. According to Durban Point Development Company there are currently 14 mixed use apartment buildings which at present market trends are fetching handsome sums and phase 2 is well on track.
uShaka Marine World is the place of origin for the revival of the development and development was halted for a few years due to objections of which disputes were settled.
A delightful fact about The Point is the water reticulation and purification system serving the uShaka Marine World system. There are a number of canals that make for interesting feature of walkways and apartments located next to these canals.
The prime location of The Point is one of its many positive attributes which attracts investors as it is central to tourist amenities, retail hubs and the commercial hub in the Durban CBD.
All the amenities like retail hubs are in walking distance on the many paved walkways which are well lit at night and are considered reasonably safe.
For permanent residents the important amenities like schools are taken care of with a number of daycare centers also nearby.
This self-contained city within a city will continue to attract demand as it expands. With new developments.
Take a tour of the property in The Point Waterfront via the Myroof web-site.