elaleni-coastal-forest-estate-demands

Elaleni buyer Yogita Chunder receives a gift from Scott Skewis on purchasing at Elaleni Coastal Forest Estate.

 

Elaleni Coastal Forest Estate has experienced sustained demand since its launch in 2016, evidenced by the recent resales, price growth, and sales success of new sectional title developments within the estate.

Initially marketed to a private network of investors, Elaleni Coastal Forest Estate experienced an unprecedented sales rate at launch in 2016 with 35 out of 50 stands sold prior to public launch. With a strong market demand for freehold stands within the estate, sales skyrocketed and all 50 stands in Phase 1 were sold out in only 3 months.

Wesley Benchcapon, Developer explains: “Elaleni has been exceptionally successful, which is not surprising when one considers the growth of the greater Ballito area over the last 12-18 months. Not only has the rate of sale risen exponentially but the rate of sale of sectional title homes in gated estates accounts for the lion’s share of these sales- 80% to be frank. Due to the flurry of development in the area, properties across the board are seeing price growth- established single residential properties and also those within estates. Again, the properties within estates like Elaleni have seen the best price growth. To date, Elaleni owners have seen their investment growth surpass 55% since launch. This is huge!”

Located in KZN’s Sheffield Beach within a unique environment, Elaleni is underpinned by its sustainability ethos, part of which includes the rehabilitation of the endemic fig forest, preservation of the existing local flora and solar powered Gatehouse and common areas. Elaleni has carefully weaved all the natural elements into the layout of the estate seen through freestanding homes tucked away in small pockets of trees and the breathtaking forest boardwalk which meanders through 1.3km of forest canopy and arrives at the Forest Clubhouse set near the dam. The overarching sustainability ethos not only brings the plight of our strained resources into the arena, but has a cost-saving element for owners too.

Benchcapon continues, “We all know that our natural resources are under strain, and having lived through the tough times, can attest to this. This has pushed people to think long-term and what impact their home and habits have on the environment, and how this can be mitigated. As an estate with a strong sustainability ethos, Elaleni is finding ways to aid in mitigating the environmental impact we have and in so doing is able to ask for lowered estate levies. By being part of Elaleni, you are playing a role in finding greener living solutions. What’s more encouraging for people is that the by-product of this is lowered home operating costs.”

With such an overwhelming response from the market, Elaleni Coastal Forest Estate has seen sustained demand. This demand has driven the development of Forest View Apartments and Lush Condos, both of which have sold 67% and 72% respectively in under a year. The success of these sectional title developments is in part due to the fact that they have full access to all that Elaleni has to offer. Successfully sold off-plan, they offer the whole spectrum of the Elaleni lifestyle and the robust estate security but at a lower price point. The buyer profile across the board at Elaleni (Elaleni stands, Forest View Apartments and Lush Condos) is also varied, pointing to a positive shift in market activity.

“Elaleni has organically created a multi-generational estate; from families looking for their ideal home with space and comfort to empty-nesters looking to consolidate and live simply as well as younger people just getting into the property market and buying their first home, Elaleni has all of this. What’s even greater is the sense of community cohesion which Elaleni creates just simply by having such great facilities which are shared and accessible to all residents. We have moved away from the tired old ideas of a homogenous living situation where people at the same life stage flock together- instead we have attracted a multitude of buyers all looking for different things in a home. Elaleni is attractive in that, if you are at that stage of life, you can happily have the perfect family home and still have your elderly parents close by, set up in their own lock up and go apartment.” says Benchcapon. 

Elaleni Coastal Forest Estate exerts an undoubtedly strong pull on the market and especially those looking for space, family facilities, security within a naturally beautiful setting while still being close enough to schools of choice, shopping malls and main roads.

“Elaleni’s success has been unequivocal and those who invested early have already seen a return in a short time. With the potential for strong capital appreciation, already evidenced by the average 55% growth rate at Elaleni, we have had sustained demand and as a result 26% resales already. I really think we have broken the mould here in so many way. With these kind of results, those who invest into the sectional title developments at Elaleni can also ride this wave and watch their investment value grow in similar fashion.“ ends Benchcapon.