- South Africa’s KwaZulu-Natal South Coast region has become an increasingly attractive option for international high net-worth individuals (HNWIs).
- Numerous residential properties offer appealing coastal locations, excellent construction and affordable luxury.
- Developers in KwaZulu-Natal have focused their amenities on wealthy internationals, providing high-quality retail, healthcare and education opportunities.
KwaZulu-Natal has become an increasingly enticing option in the South African property market, with the South Coast emerging as a major player by investing in amenities such as healthcare and education to appeal to international HNWIs.
A recent report from the South African Investment Conference (SAIC) for August 2023 suggests that KwaZulu-Natal South Coast’s expansive growth has been fuelled by its numerous developmental properties that offer appealing coastal locations, excellent construction and affordable luxury built with HNWIs in mind.
In the report, South African investors noted that the area is receiving global attention, particularly due to projects such as the eco-estate Serenity Hills and the 13km2 Renishaw Coastal Precinct.
According to the report, over half of the luxury properties on the $41.9m Serenity Hills eco-estate have already been sold to foreign buyers from Canada, the UK, Switzerland and Germany. The development was launched in H2 2022.
Additionally, the report suggests that the Phase 1 construction of Renishaw Hills has produced many initial luxury properties, and that the total expenditure for the whole project is expected to be approximately $8bn when finished.
International HNWIs looking to relocate to the KwaZulu-Natal South Coast region will need a dependable international payments method to transfer money abroad.
The South Coast Tourism and Investment Enterprise (SCTIE) has identified luxury residences in the Margate region, such as the Injabulo Lifestyle Estate, which has an estimated value of $16m and has attracted substantial interest from international travellers.
Recently, Trade and Investment KwaZulu-Natal held a media tour following the SAIC summit, giving potential buyers a unique chance to visit Renishaw and Serenity Hills.
At the tour, Phelisa Mangcu, CEO of SCTIE, indicated that tourism and luxury living are crucial areas of investment that attract wealthy travellers to the South Coast region.
Mangcu said that SCTIE will work to promote and invest in property and other growth areas on the KwaZulu-Natal South Coast, such as tourism, renewable energy, marine industry and transport, to ensure that the area continues its upward trajectory in attracting international HNWIs.
International HNWIs wishing to purchase a luxury property on the South African property market should use a safe money transfer method when transferring funds.
HNWIs interested in visiting and experiencing the South African luxury lifestyle can use our online money transfer comparison tool to compare foreign exchange rates.
