SEEFF Pinetown recently reopened its doors at 50 Josiah Gumede Rd under the new ownership of husband and wife team Thembani and Sibongile Ngcobo.
Sibongile is an experienced estate agent, having formally worked in the industry for the last five years. The couple has been involved in real estate investments and rental projects since 2005, with Pinetown one of their focus areas.
“While Pinetown was previously regarded as a predominantly light industrial town, things have changed,” said Sibongile
Thembani said that Pinetown, situated between Westville and Kloof, is a very diverse area, both in terms of the population and the type of property offerings, which adds to its attractiveness.
“Of recent buyers in Pinetown, 36% were between 21 and 35 years of age, and 37% were aged between 36 and 49 years, with the 50+ group making up 27%,” he said.
“Our buyers are either relocating from other areas in South Africa due to work requirements, or are downscaling to something smaller and low maintenance. When it comes to secure complex-type living, families will upscale as their needs grow.”
The Ngcobos say that investors also find Pinetown to be a good market for rental properties. “The demand from potential tenants is high, as many of them cannot afford to purchase just yet, so they rent whilst saving for a deposit and costs. Rental returns are good, at between R7000 and R8000 a month for a 3-bed home and around R5000 for a 2-bedroom flat.
Pinetown is not just conveniently close for those working in the industrial areas of New Germany, Westmead and Mariannhill, but is centrally situated for an easy drive to the Upper Highway areas, Durban CBD, and Queen Nandi Drive, and has quick access to the M13, N3 and other major routes.
The area is now regarded as a fully-fledged residential suburb, with everything needed to service families, from schools to sports facilities and upmarket shopping complexes.
Sibongile said demand for the area has grown rapidly, with houses, flats and apartments being much in demand by middle-class buyers with solid jobs. “The 2019 outlook for the area is promising. We expect that demand for properties in Pinetown to continue, as these properties offer stable growth in value,” she said.