Recent insights from Lightstone’s property newsletter have placed the spotlight on the most coveted, affluent suburbs within South Africa. The Sibaya Coastal Precinct, in KwaZulu-Natal, has emerged as a preferred destination, ranking impressively at fourth on the list in 2023.
This upward trajectory of the suburb in the South African property market underscores the precinct’s growing appeal, particularly among those seeking a convenient, vibrant, luxurious retirement lifestyle. The coastal way of life and the dynamic balance of Umhlanga’s urban amenities in close proximity all add to the happy equation.
For retirees, Sibaya Coastal Precinct is the ideal retirement destination to call home with estates such as Capri Village leading the way. Already at the tail end of its Phase 2 sales, with Phase 3 and 4 still to come, Capri Village is an all-inclusive estate with leisure, community and retail within 2 minutes. Purchasing within Capri Village and the Sibaya Coastal Precinct is definitely an astute investment decision.
Sibaya Coastal Precinct’s climb in the rankings to become the fourth most desirable suburb, as evidenced by its substantial total purchase price of R1.72 billion, speaks volumes about its allure. This surge reflects the precinct’s exceptional blend of coastal beauty and modern sophistication, making it a standout choice for retirees who value both natural splendour and contemporary comforts.
In the landscape of South Africa’s property market, a noteworthy shift is evident in the valuation and sales dynamics. The average value of a sectional title unit has been recorded at R1.1 million, overshadowing the Freehold units’ average value of R807,000, reflecting a nuanced preference among buyers. The market segment for properties valued under R500,000 has seen a decline, plummeting from 58% in 2010 to 31% in 2023.
Conversely, the sales bracket of R500,000 to R1 million has maintained a consistent pace, remaining around 25 – 26%. More striking is the surge in transactions within the R1 million to R3 million range, which escalated from 15% in 2010 to 35% in 2023.
The luxury market, particularly in the R3 million to R5 million bracket and beyond, has witnessed an uptick in sales, indicating a growing appetite for high-end properties within estates.
Within the illustrious Sibaya Coastal Precinct, Capri Village represents the zenith of living for the over 50s, set in the heart of Salta Sibaya. Following the enthusiastic reception of its initial phase, the village expanded its offerings with Phase 2, tailoring its homes to the nuanced preferences of residents. These properties, ranging from 2 to 4 bedrooms, are gateways to a lifestyle replete with luxury, convenience, and community.
Unveiling a world of amenities
Capri Village offers more than just stunning homes. It provides an enriched living experience where every day is a discovery. The precinct’s community hub, epitomises leisure and social interaction, boasting facilities like a bowling green, bocce ball courts, and braai pods. For relaxation, the indoor pool and library offer serene escapes, ensuring a well-rounded lifestyle for all residents.
Convenience on your doorstep
Adding to the allure is the Marine Walk Shopping Centre, positioned within the Sibaya Coastal Precinct, and as part of the Salta Sibaya offering, Marine Walk brings a plethora of retail options to residents’ doorsteps. Featuring a range of prestigious brands and essential services, this centre embodies the luxury of convenience.
Security a top priority
Security remains a paramount concern, particularly for retirees seeking a safe haven. Capri Village excels in this aspect, offering advanced security measures including perimeter fencing, surveillance systems, and 24-hour patrol guards, ensuring peace of mind within this secure environment.
Estates within the Sibaya Coastal Precinct are becoming increasingly valuable, contributing substantially to the overall property market value. This trend is indicative of the high regard for estate living, especially among the retirement community, who are drawn to the blend of luxury, security, and lifestyle amenities these environments offer
While the broader South African property market has experienced fluctuations, the consistent value and demand for properties in premier locations like the Sibaya Coastal Precinct signal a robust interest in quality estate living. The market’s dynamics, including the shifting patterns of property sales and the evolving preferences of affluent buyers, suggest a bright future for this segment, particularly for luxurious retirement villages like Capri Village.
The ascension of the Sibaya Coastal Precinct in South Africa’s property market rankings is a clear indicator of its desirability and the premium lifestyle it offers. Capri Village, within this precinct, epitomises the ultimate retirement dream, offering a harmonious blend of natural beauty, modern amenities, and unparalleled security. As the trends in the property market continue to evolve, the Sibaya Coastal Precinct stands out as the epitome of luxury retirement living in KwaZulu-Natal.
