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Growing interest in uMhlanga produces R8.7m sale

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Park Village Auctions recently auctioned a “particularly fine” upmarket residence in Umhlanga for R8.7 million.

Park Village Auctions recently auctioned a “particularly fine” upmarket residence in Umhlanga for R8.7 million. 

Located at 16 Hedingham Court, the spacious double-storey house comprises a large entrance hall with staircase leading to the first floor, reception areas, six bedrooms, five bathrooms, an openplan kitchen with scullery, study, triple garage, staff accommodation, swimming pool, and an ocean view. 

The property measures 1 364m². PVA Head Auctioneer Clive Lazarus says the price achievedwas not unexpected due to Umhlanga’s growing popularity, particularly in the luxury segment of the market. 

“Interest in Umhlanga is growing among lifestyle-orientated buyers who enjoy the convenience of its proximity to beaches, shopping centres, fine schools, hospitals and King Shaka International Airport. 

“We see many businesses from central Durban relocating to Umhlanga and ultra-luxury property developments in the area, indicating strong economic confidence by investors. 

“It is no wonder Lightstone Property reported a 32% increase in the median price of properties in Umhlanga.” Lazarus says in a sellers’ market, as is the case with Umhlanga, property auctions are attractive to both buyers and sellers. 

“Buyers find gems at reasonable rates while sellers opt to sell on auction because the process is always swift.” PVA regularly valuates and disposes of properties across the board, including commercial and industrial, agricultural, deceased, insolvent, sectional title and sequestrated estates. 

For more details calls 011 789 4375 or see www.parkvillageauctions.co.za

Sunday Tribune Auctions

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